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Lessons from the Past: Airbnb

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An overview of how Airbnb first got started

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Lessons from the Past: Airbnb

  1. 1. A tale of 3 guys, 3 mattresses, and 2 boxes of cereal
  2. 2. 2007
  3. 3. Two RISD Alumni Joe Gebbia Brian Chesky
  4. 4. NY SF 2007 — Joe and Brian had recently moved to San Francisco from New York.
  5. 5. Problems NO ROOMS $ No money for rent No place for visiting professionals to stay in SF
  6. 6. Round 1 — Visa Funding Binder of credit cards —$$$
  7. 7. Hmmm…what could we do with this?
  8. 8. Solution FUN FACT: Airbnb’s original pitch deck can still be found here on SlideShare
  9. 9. First Website
  10. 10. First Guests Amol was another designer and actually helped Joe & Brian on their presentations “Being one of the first Airbnb guests feels like being on The Tonight Show, but I didn't know I was on The Tonight Show.” — Amol •$80/Guest
  11. 11. Roommate Reunion Joe Gebbia Brian CheskyNathan Blecharczyk
  12. 12. Getting Sidetracked Airbnb Continuum Brilliant idea to make a roommate-matching service Realization that roommates.com is already a thing
  13. 13. First Public Launch 2 bookings
  14. 14. 2008
  15. 15. Opportunity
  16. 16. Round 2 — Cereal Funding +$30,000
  17. 17. Website Redesign
  18. 18. Second Launch 600 bookings
  19. 19. 2009
  20. 20. Round 3 — Y Combinator +$20,000 The startups move to Silicon Valley for 3 months, during which we work intensively with them to get the company into the best possible shape and refine their pitch to investors. Each cycle culminates in Demo Day, when the startups present their companies to a carefully selected, invite-only audience. “ ”http://www.ycombinator.com/
  21. 21. NY SF Making ~$200/mo, Joe and Brian fly back to New York to meet their users
  22. 22. Paul Graham Fred Wilson Y Combinator VC Investor Hmm, sounds interesting. Yeah, I’ll meet with them. Fred! You should meet these two guys from Airbeds— they’re in NYC! So what’d you think? They’re great, right!? Yeah… but I think I’ll pass on this one.
  23. 23. Joe and Brian learned that having good quality photos on listings significantly improved interest in Airbnb’s service
  24. 24. Rebranding Shared Spaces Alls Types of Accommodation
  25. 25. Round 4 – Real Money (finally) $600k
  26. 26. Since Then… November 2010 July 2011 January 2012 August 2014February 2011 June 2012 October 2014 June 2015 November 2015 December 2015 $7.2M funding $112M funding $475M funding $1.5B funding $1.5B funding $100M private equity funding “Airbnb Law” 10M bookings 5M bookings 1M bookings
  27. 27. Today Value: Bookings: $31 Billion 160 Million guests
  28. 28. Airbnb Company Molecule Travelers on a budget High-cost & limited hotels Adjustable- rate rentals People Problem Solution
  29. 29. Working at Airbnb Rebecca The reason I wanted to work at Airbnb is that — I just believed in it. And it’s all the right things— it’s designer founded, designer led, and personally, I don’t believe in working in places where your talents are wasted. I look for people who already get it and [Airbnb] is a whole company that really got it.Design Researcher @ Airbnb 2011-2014
  30. 30. Sources • https://getpaidforyourpad.com/blog/the-airbnb-founder-story/ • http://www.businessinsider.com/how-airbnb-was-founded-a-visual-history-2016-2/#the-pair-knew-a-big- design-conference-was-coming-to-san-francisco-and-it-was-making-hotels-hard-to-come-by-they- created-a-simple-site-airbedandbreakfastcom-and-bought-three-air-mattresses-the-duo-had-met-at- college-at-the-rhode-island-school-of-design-so-they-thought-acting-as-tour-guides-to-designers-would- be-a-fun-way-to-make-money-3 • http://www.paulgraham.com/airbnb.html • https://growthhackers.com/growth-studies/airbnb • http://nextjuggernaut.com/blog/airbnb-business-model-canvas-how-airbnb-works-revenue-insights/ • https://www.cnbc.com/2017/03/09/airbnb-closes-1-billion-round-31-billion-valuation-profitable.html • https://expandedramblings.com/index.php/airbnb-statistics/
  31. 31. Sources IMAGES • http://www.core77.com/posts/11377/Breakfast-Politics- Obama-Os-and-Capn-McCains • https://www.iconexperience.com/g_collection/icons/? icon=hotel • http://www.greylock.com/the-entrepreneur-questionnaire- brian-chesky-co-founder-and-ceo-of-airbnb/ • https://foodtechconnect.com/2012/09/20/obama-romney- cerealize/ • https://gigaom.com/2012/10/25/announcing-airbnb-co- founder-joe-gebbia-to-speak-at-roadmap/ • https://www.ycombinator.com/press/ • http://www.showbiztalent.com/schedule/ • http://www.freepik.com/free-vector/sad-businessman- with-empty-pocket_1113531.htm • https://www.slideshare.net/razinmustafiz/airbnb-original-pitch- deck • https://www.vanityfair.com/people/paul-graham • https://en.wikipedia.org/wiki/ 2008_Democratic_National_Convention • https://theintercept.com/2016/05/11/lobbyists-dnc-2016- convention/ • http://www.clipartpanda.com/categories/light-bulbs • https://thehustle.co/proof-that-your-favorite-startup-started-out- awful • https://www.google.com/url? sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8& ved=0ahUKEwiAzqzUmpfWAhXpwlQKHe3xDu0QjhwIBQ&url=ht tps%3A%2F%2Fkenshoo.com%2Fclient_testimonials%2Fsequoi a-capital%2F&psig=AFQjCNH1ge9IU6JjgGebomycsGEylXO-- A&ust=1505015719858654 • http://www.loversiq.com/o/218532100/wallpaper-3840x2160- interior/218532/
  • AvivRaff

    May. 20, 2018
  • JuliaPrisyazhnyuk

    Nov. 20, 2017

An overview of how Airbnb first got started

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