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Three million people are staying in Airbnbs over New Year’s. Eight years ago, only 1,400 were.

Airbnb has had a meteoric rise.

Airbnb landing page on a mobile screen Photo Illustration by Justin Sullivan/Getty Images

To understand the growth of Airbnb, look no further than the number of guests who rent out rooms over the New Year’s holiday.

More than three million guests are using the service over the holiday this year, according to Airbnb’s CEO Brian Chesky. For consecutive years until 2017, the number of guests doubled every 12 months.

Just eight years ago, only 1,400 guests booked an Airbnb home to celebrate the turning of the year. Five years later, that number jumped to 540,000.

Since its founding in 2008, Airbnb has hosted 260 million stays, raised over $4 billion and is now worth over $30 billion. And for nearly all that time, the company has been fighting with cities and hotels that want to further tax and regulate the startup.


This article originally appeared on Recode.net.