When Joe Gebbia, Brian Chesky, and Nathan Blecharczyk, co-founders of Airbnb decided to quit their jobs to become entrepreneurs, their funds quickly diminished. So they decided to start renting out the extra space in their apartment to travelers on a budget. Soon they realized this was their entrepreneurial calling – build a Website where people could turn their homes into a hotel business.
Airbnb, a Y Combinator-funded company, now refers to itself as the eBay of space.
From couches to tropical water villas, Airbnb now spans over 80 countries and has 25,000 users worldwide. Airbnb makes a 10% commission everytime somebody rents out their space. They are now profitable, keeping the company lean, and not looking for any big funding.
In this segment of Startup Sessions check out how the site works and how Airbnb embraces the startup culture.
If you’re a startup and interested in being featured on our new show, please contact chris@vator.tv
