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How Airbnb went from renting air beds for $10 to a $30 billion hospitality behemoth

Happy 10th anniversary Airbnb . When we first wrote about the company a decade ago, it was a spare website cobbled together by its founders for the low low price of $20,000. AirBed And Breakfast Takes Pad Crashing To A Whole New Level In the years since, the marketplace Airbnb created has radically transformed the rental landscape in cities, created an entirely new hospitality market and surged to a valuation of roughly $31 billion. We researched the number of airbeds sold every year because that’s how big we thought Airbnb could become. — Brian Chesky (@bchesky) August 12, 2018 As it prepares for an initial public offering in 2019, it’s worth a look back on how far the company has come, and how its founders’ vision for a new type of way to monetize unused apartment space for budget travelers has become the engine driving a new kind of travel and new experiments in modern living (for better or worse). When we wrote about the company in 2008, the pitch for Airbnb’s services had already been set. AirBed and Breakfast will definitely appeal to younger travelers, and conventioneers who can’t find a regular hotel room. In overbooked Denver, where 20,000 people will be descending for the Democratic National Convention, hotels are already sold out. More than 600 people have found alternative accommodations through AirBed and Breakfast, and 50 to 100 new listings appear every day. Prices range from $20 a night for an airbed to $3,000 for an entire house. Indeed, it’s likely that there would have been no Airbnb without the 2008 presidential campaign. The election created a serendipitous confluence of an incredibly unique historical moment where a groundswell of demand could be met by a new type of supply and Airbnb’s co-founders Brian Chesky and Joe Gebbia were there to capitalize on the opportunity. It’s good to remember that in 2008, the co-founders were claiming that they could barely make rent

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How Airbnb went from renting air beds for $10 to a $30 billion hospitality behemoth

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