We identified 15 companies with similar business characteristics to our client for the peer group.

FORBES: Who Should Investors Believe When It Comes to Peer Groups?

The new model was peer-to-peer, where every user on the network acts as both a client and a server, sharing files and telling other users where else they can go to get them.

FORBES: LimeWire, BitTorrent and BearShare...Oh My!

The focus on peer-to-peer room rental sets Airbnb apart from other accommodation-booking services are targets a different type of client.

FORBES: Airbnb's Explosive Growth Draws Big Cash (and a big valuation)