What is Airbnb

What is Airbnb

In case you wanted to know, Airbnb, Inc. is an online marketplace for arranging or offering lodging, primarily homestays, or tourism experiences. The company does not own any of the real estate listings, nor does it host events; it acts as a broker, receiving commissions from each booking.

Founded by roommates and former schoolmates Brian Chesky and Joe Gebbia, who could not afford the rent for their loft apartment. Chesky and Gebbia came up with the idea of putting an air mattress in their living room and turning it into a bed and breakfast.

The goal at first was just “to make a few bucks”. In February 2008, Nathan Blecharczyk, Chesky’s former roommate, joined as the Chief Technology Officer and the third co-founder of the new venture, which they named AirBed & Breakfast. They put together a website which offered short-term living quarters, breakfast, and a unique business networking opportunity for those who were unable to book a hotel in the saturated market.

The site Airbedandbreakfast.com officially launched on August 11, 2008. The founders had their first customers in town in the summer of 2008, during the Industrial Design Conference held by Industrial Designers Society of America, where travelers had a hard time finding lodging in the city.

Computer programmer Paul Graham invited the founders to the January 2009 winter training session of his startup incubator, Y Combinator, which provided them with training and $20,000 in funding in exchange for a small interest in the company. With the website already built, they used the Y-Combinator investment to fly to New York City to meet users and promote the site. They returned to San Francisco with a profitable business model to present to West Coast investors. By March 2009, the site had 10,000 users and 2,500 listings.

In March 2009, the name of the company was shortened to Airbnb.com, and the site’s content had expanded from air beds and shared spaces to a variety of properties including entire homes and apartments, private rooms, and other properties.

In February 2011, Airbnb announced its 1,000,000th night booked. In January 2012, the company announced its 5,000,000th night booked. In June 2012, Airbnb announced its 10,000,000th night booked, doubling business in the previous five months. Of these bookings, 75% of the business came from markets outside of the continental United States.

By October 2013, Airbnb had served 9,000,000 guests since its founding in August 2008, and in December 2013, the company reported it had over 6,000,000 new guests in 2013, and nearly 250,000 properties were added in 2013.[40]

In July 2014, Airbnb revealed design revisions to the site and mobile app and introduced a new logo. Some considered the new logo to be visually similar to genitalia, but a consumer survey by Survata showed only a minority of respondents thought this was the case.

Airbnb first became profitable during the second half of 2016. Airbnb’s revenue grew more than 80% from 2015 to 2016.

In February 2018, the company announced Airbnb Plus, a collection of homes that have been vetted for quality of services, comfort and design, as well as Beyond by Airbnb, which offers luxury vacation rentals.

By October 2019, two million people were staying with Airbnb each night.

source: Wikipedia

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