Airbnb revamps site and brushes off IPO rumours

Airbnb is revamping its site, unveiling a new feature that enables users to create their own private lists of favourite destinations and rooms, but also browse ones compiled by celebrities. The accommodation site has also released an iPhone app, which highlights the new features. The firm says this is the first redesign since 2008 and follows a total cash injection of USD112m over 2011, enabling it to focus on improving its products.