How did Airbnb start

    How did Airbnb start

  • 1 The founders couldn't pay the rent

    Joe and Brian lived in San Francisco but had problems paying their rent .

  • 2 They decided to rent air mattresses

    There was a design conference coming to San Francisco and the city’s hotels were fully booked. They decided to rent air mattresses on the floor to bring in some money to aid them in paying the rent .

  • 3 They created a simple site in 2007

    The first few customers arrived. They gave them a place plus breakfast and they made 240$ each night as each of the first 3 customers paid 80$ per day .

  • 4 They found that it could be a good idea

    They thought that this could be a great idea that could go big, so they invited Nathan, a previous roommate, to code the site for them .

  • 5 They Launched at Sxsw

    Airbnb was launched at Sxsw, but they only got 2 bookings. In 2008 they took advantage of the elections by designing cereal packages and called them 'Obama o's' and 'Cap’n McCain'. They sold them at $40 and made 30,000$ .

  • 6 In 2009 they Got 20,000 funding

    In 2009 they got a $20,000 funding from Paul graham, the founder of Y-combinator, but were only making 200$ a week, the business was not growing .

  • 7 They realized their photos didn't look good

    They realized that the photos of the places for rent didn't look good, so they went to those places and took the pictures themselves. The business started growing and they started making 400$ a week.

  • 8 Raised $600,000 from Sequoia capital

    The drumer for a famous band rented an entire house. Soon, the businesses started getting more popular and they were able to get $600,000 of funding .

  • 9 More investors came in

    By the end of 2011 Airbnb had had five million bookings and in June it hit 10 million. As more investors heard about the business they rushed to invest more money. They raised $7.2 million then $112 million .

  • 10 In 2014 Airbnb became worth billions

    All 3 founders became billionaires as Airbnb became worth more than $10 billion (see How did twitter start).