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Airbnb to Work With Cities Amid Efforts to Regulate Home Sharing

  • Company promises it will `pay its fair share of taxes'
  • Startup says it contributes almost $6 billion in 5 top cities
The Airbnb app is displayed on a mobile device.

The Airbnb app is displayed on a mobile device.

Photographer: Andrew Harrer/Bloomberg
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Airbnb Inc. pledged to join with local governments and improve transparency as it faces scrutiny from hotels and policy makers who argue the home-sharing startup is driving up rental prices and failing to pay taxes like the hotel industry.

The company on Wednesday released the “Airbnb Community Compact,” a statement outlining its plan to cooperate with cities, and defending the positive economic impacts of its business.