Airbnb was founded in August 2008 by Brian Chesky, Nathan Blecharczyk and Joe Gebbia, the company specialized as a hospitality service and has since become number one in the industry. All three founding members are all American billionaire business men now and revenue as of 2017 was at 2.6 billion which has only grown since that time.
What is Airbnb about? The company’s original concept began when the founders put an air mattress in their living room and turned their apartment into a bed and breakfast for an extra income. At this point the idea turned into a website called airbedandbreakfast before it was shortened into the branded Airbnb that it is today.
The company’s home base is San Francisco, CA which was also the same city where they rented their apartment out as an air bed and breakfast. The original company was crammed into the apartment on Rausch Street in San Francisco where it all began and Brian Chesky gave up his bedroom to allow for expansion and he used Airbnb until the new offices were finished.
At that point they had over 15 people working in the apartment and the company was growing faster than they could keep up with. To give you an example, February of 2011 Airbnb announced the 1,000,000th night booked using their service and by January 2012 they announced their 5,000,000th night booked, by June 2012 they anounced the 10,000,000th night booked.
Most of those bookings were from outside of the United States market coming to the USA and now the service is used all over the world as the go to service to book a stay in various locations. In 2011 the company started offering insurance for the homeowners with up to $50,000 in damage coverage and by 2012 they expanded that policy offer to $1,000,000.
The year 2011 was a year of large scaling for the company with added social connections that allowed users to connect with friends that are using the platform through their social connections. Obviously Ashton Kutcher knew what is Airbnb about because his investment company A-Grade Investments made a huge investment in the company and he took on the role of brand adviser for Airbnb. In 2011, they won an award for their app as well.
2011 also had the company opening it’s first international office in London and by the end of 2012 offices were opened in Paris, Moscow, Milan, Copenhagen, Barcelona and Sao Paulo joining an already existing Berlin and Hamburg. The continued growth of the company on a global scale saw Dublin become a European office and a Singapore and Australia offices was also added.
During 2012 Airbnb launched a travel guide for 23 major cities called Neighborhoods that allows users to select activities by demographics of the cities as in dining, transportation, nightlife, shopping and tourist attractions. With a growth of over 250,000 new properties listed and over 6 million new users, the year 2013 was another great year for Airbnb.
A New Logo
In 2014 the company redesigned their web app and their main site and they also revealed their brand new company logo. The same year Airbnb became the official jersey sponsor of the Australian Men’s national basketball team for the 2014 Basketball World Cup.
With 2015 we saw the Obama administration relax business restrictions on a United States business operating within Cuba. Airbnb was one of the first US businesses to open operations in Cuba expanding their potential reach with a new market. During 2015 the Manor F1 team was sponsored by Airbnb and had their logo’s on the cars nose and also on the teams uniforms. Airbnb also teamed up with Tesla Motors to provide special hosts with charging devices for customers in 2015.
During 2016 Airbnb somehow fell under the eyes of three US Senators who asked the FTC to investigate how Airbnb effected the housing costs. The same year a bill was signed by Govenor Andrew Cuomo that led to fines for local housing law violations, it was reported that the hotel association was behind the attempt to foil Airbnb.
In 2016 Airbnb expanded into Experiences which allows guest who books the ability to book service for local guides, cooking classes, guided tours and meet ups. Since 2018 there’s been over 25,000 experiences in over a thousand locations. You can filter the search for specific interests and find experiences that would accommodate your stay.
Investments And Acquisitions
Before the end of 2016 Airbnb saw profit for the first time because form 2015 to 2016 their revenue was up by about 80% over the previous year. In 2017 Airbnb invested in Resy which is a restaurant reservation booking app, the initial investment was 13 million as an investment with well-known entrepreneur Gary Vaynerchuk.
The year 2017 also saw Airbnb with its largest acquisition at 300 million in cash and stocks to purchase Luxury Retreats International which is a rental company based in Canada. During 2017 Airbnb aquired a social payment startup called tilt.com and they began allowing split payments up to 16 people involved.
Airbnb also acquired another startup in 2017 called Accomable, a company focused on travel accessibility. During 2018 there was two new features launched, the first is called Airbnb Plus which provides additional amenities and owners must meet requirements to be eligible for the Airbnb Plus qualifications.
The second feature released during 2018 is called Airbnb Collections which will categorize homes ideal for specific occasions including family, work related, weddings, dinner parties and many other functions. Airbnb keeps improving at a very fast pace over time to accommodate their platform user with an outstanding experience.
A 400 Million Acquisition
For those that travel this can be very good when searching for accommodations with requirement needs like WiFi and cooking equipment that you might especially need in more remote areas. While Airbnb has had to deal with some controversies over the years with regulations and other controversies involving both hosts and guests they have risen above the challenges.
In early 2019 Airbnb once again acquired another company at a whopping 400 million, it was a last minute booking website called Hotel Tonight that could book last minute rooms. As of 2017 Airbnb had raised funding of over 3 billion and at that time Airbnb had a value of 31 billion, during the third quarter of 2018 Airbnb had earned revenue of over 1 billion dollars.
The growth of Airbnb has been steady since the company started in 2008 and continues to grow each year with innovations that keep bringing many more guests and hosts to the site to begin using Airbnb. The history of Airbnb shows the company is clearly the leader in their industry and they remain at the top leading the way.
There have been 5 star ratings given for Airbnb and sometimes a lower rating will happen because of either a cancellation or accommodations that do not meet the advertised property. These things happen everywhere including Amazon or Walmart, some people are just hard to please and others really had a bad experience.
There’re millions of others that have used Airbnb over and over with nothing but great things to say about their experiences using the service. I’m currently planning a trip using Airbnb on the US east coast to take my time traveling north to see family and enjoy a bit of an extended stay in NY State.
I have other family members who have used Airbnb that raved about their accommodations when they traveled to Europe. There is so many reasons why using Airbnb is a really good idea besides the chance for hosts to earn money from there properties that meet the requirements of Airbnb.
When traveling, using Airbnb is a great way to find a deal on an awesome property at a rate that may be less than a premium room would cost. This is why Airbnb was being attacked by the hotel association, they were losing money drastically and had no solutions to Airbnb.
Not only can you find excellent deals for your traveling needs with Airbnb but you can become an Airbnb host and earn a bit of money yourself. In my market Airbnb estimates that I can earn about $1095 if I host my home, this can work well if you are traveling to recoup expenses from your travels and make money while your house would be normally be empty.
Get A Free Airbnb Account
Airbnb has effected property owners to add accommodations for Airbnb guests to their properties by adding new types of great accommodations on their properties. This includes cabins, small houses, trailers, RV’s and other forms of accommodations that have many amenities and meet all of Airbnb requirements.
Airbnb has literally changed the way many people travel and they have definitely changed the game when it comes to an alternative to your choices over a regular hotel. The Airbnb site is fun to play around on searching for all the fantastic deals from all over the world, I found a 5 star rated 2 bedroom 1 bath apartment in San Paulo that was spotless for $27 a night.
When you click the link below you can sign up for Airbnb for free and search all kinds of amazing destinations for spectacular deals that will make your trip the best it can be. You can also consider using Airbnb all from the same account as a host once signed up to Airbnb. They offer signing up through Facebook, Google or you can use an email address.
I highly recommend Airbnb as it’s easy to see how the company has continually improved over the years and continues to innovate with added features and app improvements. What is Airbnb about in the future will surely be a continued success story as they continue to grow and with the best site anywhere to find great rental deals and the hosts that offer those deals.
Thanks for reading my history review post of Airbnb.
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