A tale of 3 guys, 3 mattresses, and 2 boxes of cereal
2007
Two RISD Alumni
Joe Gebbia Brian Chesky
NY
SF
2007 — Joe and Brian had recently moved to San Francisco from New York.
Problems
NO ROOMS
$
No money for rent No place for visiting professionals to stay in SF
Round 1 — Visa Funding
Binder of credit cards
—$$$
Hmmm…what could we do with this?
Solution
FUN FACT: Airbnb’s original pitch deck can still be found here on SlideShare
First Website
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
Roommate Reunion
Joe Gebbia Brian CheskyNathan Blecharczyk
Getting Sidetracked
Airbnb Continuum
Brilliant idea to make a
roommate-matching service
Realization that
roommates.com is
already a thing
First Public Launch
2 bookings
2008
Opportunity
Round 2 — Cereal Funding
+$30,000
Website Redesign
Second Launch
600 bookings
2009
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/
NY
SF
Making ~$200/mo, Joe and Brian fly back to New York to meet their users
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.
Joe and Brian learned
that having good
quality photos on
listings significantly
improved interest in
Airbnb’s service
Rebranding
Shared Spaces Alls Types of Accommodation
Round 4 – Real Money (finally)
$600k
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
Today
Value:
Bookings:
$31 Billion
160 Million guests
Airbnb Company Molecule
Travelers
on a budget
High-cost
& limited
hotels
Adjustable-
rate rentals
People
Problem Solution
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
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/
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/

Lessons from the Past: Airbnb