Ideas often come out from necessity and the same happened in the story of Airbnb. It all started when the founders were short of money for rent. They decided to temporarily lease out the air mattresses in their home to cover it. Like in any company, cash flow was, for a long time, a big issue. Surprising to some, they are still receiving large amounts of funding to this day.
In the early days, they became extremely creative and sold cereal boxes with pictures of Barack Obama and John McCain in the run up to the 2008 US presidential elections. The money they made was enough to keep the business afloat.
Many of you have probably used Airbnb and know just how convenient a way to travel it is. However, like most disruptive businesses, the company has also been heavily criticized with issues surrounding safety, trust and discrimination. Airbnb is currently also facing regulation concerns which are being widely reported in the press.
Following the well-received post on Uber, our friends at Half Price have created an infographic, the story of Airbnb. Learn some of the key milestones, from the early days in the business, which led to their phenomenal growth. You can also better understand how to properly value a company as it grows through different funding cycles.