The holiday accommodation rental company AirBnB is to locate its new European Headquarters in Dublin.
It's understood that the move will create up to 100 new jobs.
AirBnB is a website which allows people to book a room, apartment or home from other users on the site with vacant property. Arrangements are then made directly between interested parties without involvement from management companies.
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The website announced that it plans to set up it's hospitality innovation in the capital as well as its customer experience services.
On a company blog posted for the announcement, AirBnB CEO Brian Chesky explained that "Dublin is an emerging technology epicentre in Europe, and one of its most international cities, with nearly every language represented."
"Dublin is known the world over for its warm welcome. The city has a reputation for being one of the most hospitable and friendliest places in the world," said Cheskey.
The investment has the backing of the IDA. Senior executives from the company met Minister for Jobs, Enterprise and Innovation, Richard Bruton during an IDA investment trip to America last October.
AirBnB currently employs around 600 people worldwide, with a valuation of $2.5bn.