|Legal Name:||Airbnb, Inc.|
|Headquarters Regions:||San Francisco, California, United States|
|Founded Date:||August 2008|
|Founders:||Brian Chesky, Nathan Blecharczyk, Joe Gebbia|
|Number of Employees:||6000+|
|Area served:||United States of America and world|
|Products of Company:||online marketplace for lodging, primarily homestays for vacation rentals, and tourism activities|
|Net Worth in 2021:||$4 Billion|
Running a business is always about choosing the right business to venture in. The secret is not hidden in having so much money for a capital but in identifying a problem and knowing how to solve that problem and in return make profit. This is exactly what happened to Joe Gebbia and Brian Chesky who were schoolmates and roommates at the time of the foundation of Airbnb. They realized that people travel a lot and many times, they are not able to get the best hotel room bookings on time.
This is what drove them to thinking about founding Airbnb. The company operates an online marketplace for primarily homestays, lodging, tourism and vacation rentals activities. They have their offices based in San Francisco, California and it is easily accessible through mobile app and through their website.
Looking at the kind of properties they advertise, it would be very tempting to think they own all these properties. The company only benefit by commission from every property they place on their website for booking. Therefore, the partners needed very little capital to run the company. Airbnb is a shortened version of the original name AirBedandBreakfast.com which easily explains the services they offer.
Well, how well do you know about Airbnb? If not much, we have compiled all you need to know about Airbnb’s net worth in 2021, wiki and complete details. Well, if you’re all set, here is what we know about Airbnb to date.
Former schoolmate and roommate Joe Gebbia and Brian Chesky came up with an idea of buying an air mattress and putting it in their living room. The idea was to then turn their living room into a bed and breakfast. In February 2008, they had another member by the name Nathan Blecharczyk who was a former roommate of Chesky. He joined the team becoming the third co-founder and well as the Chief Technology Officer of the new venture. At the start, they decided to name the business AirBed & Breakfast.
In the beginning, the idea was offering bed and breakfast services for those who were not in a position of booking a hotel and especially due to the high costs involved. The three managed to officially launch the site Airbedbreakfast.com on 11th of August in 2008. The Industrial Design Conference held in the summer of 2008 meant a lot to the trio as it is what gave them their first clients in town.
The conference was held by Industrial Designers Society of America. And since it was not easy for travelers to find lodging in the city. In January 2009, the team was invited by computer programmer Paul Graham to a winter training session. This was a startup incubator training session titled Y Combinator which provided them with funding and training in exchange, they would give them a simple interest from the company.
In January 2009, they started receiving venture funding from Y Combinator the first being $20,000. Since they had already built their website, the money Y Combinator invested in them came in handy as they used it to fly to New York to promote the site and meet users. Their return to San Francisco was profitable as they had a viable business model to present which they need to present to West Coast Investors.
By March 2009, they has a user base of 10,000 and listings was totaling up to 2,500. At the same time, they decide to shorten the name of the company to Airbnb.com. They at the same time expanded the content of the site from air beds to several other properties including private rooms, homes and apartments and many more.
In April 2009, they received a total of $600,000 from Sequoia Capital in what they referred to as seed money. This was in the participation of Youniversity Ventures partners Keith Rabois, Jawed Karim and Kevin Hartz. In November 2010, they managed to raise a total of $7.2 million in financing from Sequoia Capital and Greylock Partners in a Series A round. They announced that they had received 80% bookings within the previous 6 months out of the 700 thousands nights bookings made. They won their first aard in March 2011 in the South by Southwest conference.
Awards and Nomination
Airbnb has been a very successful business that tends to win recognition and make a milestone every year. In the process, they have also attracted many awards and nominations that it would be almost impossible to list them all down. Therefore, we will list just a few of them.
These include; World Leading Online Travel Accommodation Marketplace for four consecutive years from 2017 to 2020. They also received the “app” Award in 2011, Brand of the Year title among many others. At the same time, they give different awards to their clients and employees as a way of appreciating them. Some of these include; The community Award, the host Award and the Hero Award among others.
Net Worth & Earnings of Airbnb in 2021
Airbnb has not only earned a name for themselves, but they have also made great wealth in the place. As of 2021, their net worth is estimated $4 billion and is expected to rise even higher in the coming years as the business grows.
When it comes to Airbnb, they not only care about the number of clients they get to serve, but also the number of lives they get a chance to transform. For this reason, they have been involved in several philanthropic activities. These include; offering free housing for Hurricane Sandy victims with the support of Michael Bloomberg who was the New York Mayor in 2011. It launched Open Homes to connect who were offering free or low-cost housing to victims of uprooting including natural disasters.