Morgan Stanley allowed its staff to use Airbnb after a bunch of young employees asked
On Monday, the global investment bank told its staff it would allow all employees to use Airbnb Business Travel for work-related travel as part of its corporate travel policy, according to people familiar with the matter.
Airbnb Business Travel is a feature offered by the apartment-sharing service to employees of participating companies.
It provides transparency to travel managers in terms of expenses paid, and it keeps employees from having to file for those expenses.
Morgan Stanley employees - particularly the younger ones - are huge fans of Airbnb, according to people at the firm, and had expressed interest in using its services for work travel.
The firm, meanwhile, is interested in providing its workers with flexible travel options, according to the people.
The travel tie-up also solidifies Morgan Stanley's relationship with one of the hottest tech companies around.
In December, Airbnb confirmed it had raised close to $1.5 billion in its latest funding round, valuing the company at $25.5 billion.
Also on Monday, it was reported that Morgan Stanley's high-net-worth clients would be able to invest in the ride-sharing app Uber's latest fund-raising round, which values that company at $62.5 billion.