It wasn’t until Paul Graham from the Y Combinator decided to help guys with funding and mentoring that the idea finally caught on. The idea seemed to work so that soon Nathan Blecharczyk joined the team as CTO, and was launched.Īlthough the concept of finding an authentic place to stay in crowded cities and making a reservation in just a few clicks may sound excellent, firstly, investors weren’t really interested. They decided to put an air mattress in the living room and offer breakfast to their guests. Two guys, Brian Chesky and Joe Gebbia shared an apartment in San Francisco and needed some extra cash to pay the rent. The company was born amidst one of the worst crises of recent times - in 2008.
Want to discover the background of Airbnb, its Covid-19 story, and the secret of such an unexpected and so far successful IPO? Today, we’ll dive right into it! How It All Started However, despite such a challenging year for the whole tourism industry, the company managed to not only survive but also shock everyone with the third-quarter results and its plans to go public. No wonder, at that point, the idea of an IPO seemed exceptionally bleak. Such an unpredictable global catastrophe brought massive layoffs and cancellations to many companies, and Airbnb was no exception. In particular, with hotels closed and traveling on halt, Covid-19 became a nightmare for tourism and hospitality as a whole. In our previous post, we talked about how detrimental the pandemic was to some of the industries.
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