In 2007 when Brian Chesky and Joe Gebbia moved from New York to San Francisco, the concept of Airbnb was born. During that time, they’re having difficulty paying their rentals and were thinking of some ways to earn additional income.
As the Industrial Conferences are getting in demand, they noticed that more hotels are becoming fully-booked. Hence, the opportunity for the two founders to conduct business. They started by renting out few airbeds with breakfast for $80.00 each night, and then they put up a simple site with maps called “Air Bed and Breakfast.”
Their first customers were three: one Indian man, the other was a woman from Boston, and the third was a man from Utah. Later on, a technical architect named Nathan Blecharczyk joined as another Airbnb founder to help them build the site. Then they launched the site at SXSW, and they received two bookings.
That was in August 2008 that AirBedandBreakfast.com started.
Significant Development of Airbnb
- August to November 2008: they earned $30,000.00 after selling cereal boxes before the election.
- January 2009: they received $20,000.00 funding from Paul Graham’s Y Combinator.
- March 2009: the website name was changed to airbnb.com.
- From November 2010 to July 2011: they received around $7.2. Million to $112 million from many investors.
- October 2014: they received $475 million, and the Airbnb law was created in San Francisco
- June 2015 to present: they received 1.5 billion in funding and up to present still growing and has continuously received more bookings. Currently, it has total guests of approximately 60 million-plus.
You might like: