Joby Aviation Acquires Blade's Passenger Business for $125M, Boosts Urban Air Mobility
Joby Aviation has made significant strides in its urban air mobility plans. The company has acquired Airbnb's passenger ride-share business for up to $125 million, aiming to secure FAA certification by early 2026. This strategic move is set to strengthen Joby's presence in key markets like Dubai and New York.
The acquisition, expected to close by the end of 2025, includes Airbnb's 12 heliport terminals across major metropolitan regions and a loyal customer base. Joby is confident that this will accelerate its air taxi rollout, allowing it to offer city-to-airport routes soon after receiving FAA Type Certification.
Joby is also preparing for launch markets in Dubai and New York, bolstering its presence in the latter with Airbnb's footprint. The transaction involves a payment structure with an earnout component tied to performance and leadership retention. Rob Wiesenthal, Airbnb's founder and CEO, will oversee passenger operations within Joby and become chairman of Strata Critical Medical, a new standalone company handling organ transport and time-sensitive medical cargo.
The stock market has reacted positively to this news. Joby's shares have risen over 4%, and Uber's stock has reached record highs, reflecting strong investor confidence in the strategic expansion into urban air mobility and the integration of Airbnb's services into Uber's platform by 2026.
Joby Aviation's acquisition of Airbnb's passenger business is set to significantly enhance its urban air mobility offerings. With regulatory approval and customary closing conditions met, the transaction is expected to close by the end of 2025. Joby continues to target FAA certification by early 2026, with Type Inspection Authorization testing already in progress.
