money & economicsWikipedia2007 · San Francisco, California, USA

Airbnb started when two broke roommates rented out an air mattress in their San Francisco living room

the gist

In October 2007, Brian Chesky and Joe Gebbia were struggling to pay their San Francisco rent when a design conference left the city short of hotel rooms. They put an air mattress in their living room, served breakfast and charged guests, and the idea worked so well that they saw a business. Nathan Blecharczyk joined as technology lead in February 2008, and the site launched in August 2008 as AirBed and Breakfast. The founders raised money by selling cereal branded with the 2008 presidential candidates, and in January 2009 they joined the startup accelerator Y Combinator. By March 2009 the site had 10,000 users, and the company shortened its name to Airbnb to avoid the air mattress image. It went public on Nasdaq in December 2020, raising $3.5 billion.

so what

Airbnb helped create the modern short-term rental market, which has changed housing in many cities and sparked debates over local regulation. Its origin shows how an everyday need, finding a place to sleep, can become a platform used by millions.

fun fact

The company's first name, AirBed and Breakfast, was shortened because people kept assuming it was about air mattresses.

more on this

longer watch · 8:57

8:57

The Rise of Airbnb: From Airbeds to Billions

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key facts

Country
United States
Founded
2008
Created by
Brian Chesky

Facts: Wikidata (CC0)

Adapted from Wikipedia, the free encyclopedia · CC BY-SA 4.0

Image: Wikimedia Commons