In February 2008, Nathan Blecharczyk, Chesky's former roommate, joined as the Chief Technology Officer and the third co-founder of the new venture, which they named AirBed & Breakfast.
After changing the website, the company launched again in August 2008, not long before the Democratic National Convention in Denver.
The site Airbedandbreakfast.com officially launched on August 11, 2008.
The company was founded by Brian Chesky, Joe Gebbia, and Nathan Blecharczyk in San Francisco during 2008 where they became one of the first to peer-to-peer services that specialized in housing accommodations.
The founders had their first customers in town in the summer of 2008, during the Industrial Design Conference held by Industrial Designers Society of America, where travelers had a hard time finding lodging in the city.
Computer programmer Paul Graham invited the founders to the January 2009 winter training session of his startup incubator, Y Combinator, which provided them with training and funding in exchange for a small interest in the company.
In January 2009, the company received $20,000 in venture funding from Y Combinator.
At the same time, Paul Graham at Y Combinator tries to convince venture capitalist Fred Wilson to invest in Airbnb. It's January 2009 and the incubator invites the three founders to join its winter session for three months of training.
It's March 2009 and Airbnb has 2500 listings and close to 10,000 registered users.
In March 2009, the name of the company was shortened to Airbnb.com, and the site's content had expanded from air beds and shared spaces to a variety of properties including entire homes and apartments, private rooms, and other properties.
In April 2009, the company received seed money from Sequoia Capital.
In 2009 they partnered with Y Combinator and expanded its limited offerings.
In November 2010, they raised financing from Greylock Partners and Sequoia Capital in a Series A round, and announced that out of 700,000 nights booked, 80% had occurred in the previous six months.
In November 2010, it raised $7.2 million in a Series A round of funding led by Greylock Partners and Sequoia Capital.
In October 2011, Airbnb established an office in London, its first international office.
At the 2011 South by Southwest conference, Airbnb won the "app" award.
In June 2012, Airbnb announced its 10,000,000th night booked, doubling business in the previous five months.
In November 2012, Airbnb opened an office in Sydney, Australia, its 11th office location, and announced plans to launch the service in Thailand and Indonesia.
In November 2012, Airbnb launched "Neighborhoods", a travel guide of 23 cities that helps travelers choose a neighborhood in which to stay based on certain criteria and personal preferences.
In November 2012, Airbnb acquired NabeWise, an online city guide that aggregates curated information for specified locations.
In December 2012, Airbnb announced its strategy to move more aggressively into the Asian market with the launch of an office in Singapore.
In December 2012, Airbnb announced the acquisition of Localmind, a location-based question and answer platform.
Due to the growth of international end-users, in early 2012, Airbnb opened offices in Paris, Milan, Barcelona, Copenhagen, Moscow, and São Paulo.
Before the 2012 Summer Olympics, Airbnb acquired London-based rival CrashPadder, subsequently adding 6,000 international listings to its existing inventory.
In September 2013, the company announced that it would establish its European headquarters in Dublin.
As a way to make extra money, the duo decided to turn their living space into a room with three air beds on the floor and promise to provide guests with a home cooked breakfast (Carson, 2013, para.
With a thirst for innovation, Chesky and Gebbia enlisted the help of trusted friend Nathan Blecharczyk to help form the beginnings of a business (Carson, 2013, para.
19). In 2013 the company faced its first legal battle when city laws made it illegal for hosts to rent out their rooms to others, inciting a year-long legal battle between the state of New York and Airbnb (Carson, 2013, para.
In April 2014, the company closed on an investment of $450 million by TPG Capital, with the company value estimated to be approximately $10 billion.
In July 2014, Airbnb revealed design revisions to the site and mobile app and introduced a new logo.
In April 2015, following the Obama administration's easing of restrictions on United States businesses to operate in Cuba, Airbnb expanded to Cuba, making it one of the first United States companies to do so.
In June 2015, Airbnb raised $1.5 billion in Series E funding led by General Atlantic, and joined by Hillhouse Capital Group, Tiger Management, Kleiner Perkins Caufield & Byers, GGV Capital, China Broadband Capital, and Horizons Ventures.
In-platform rating and review systems, personal profiles, and Airbnb’s Host Protection Insurance combine to build “trust within the community of users and lowers transaction costs” (Business Model Toolbox, 2015, n.p.), as well as enhancing the reputation of individual Airbnb community members.
In September 2016, Airbnb raised $555.5 million in funding from Google Capital and Technology Crossover Ventures, valuing the company at $30 billion.
Here's the running list of Airbnb's strategic launches and acquisitions since 2016:
(2016) Airbnb Experiences, launch: "one-of-a-kind activities hosted by locals."
The New York Times reported that these events were related and part of a "plan that the hotel association started in early 2016 to thwart Airbnb".
In January 2017, Airbnb led a $13 million investment in restaurant reservation-booking app, Resy, along with serial entrepreneurs Gary Vaynerchuk, Ben Leventhal and Mike Montero.
In February 2017, the company acquired Luxury Retreats International, a Canadian-based villa rental company, for approximately $300 million in cash and stock.
In March 2017, Airbnb raised $1 billion in funding, bringing total funding raised to more than $3 billion and valuing the company at $31 billion.
On November 16, 2017, the company acquired Accomable, a startup focused on travel accessibility.
(2017) Luxury Retreats, acquisition: a global "luxury vacation rental company."
(2017) Niido, launch: "home sharing in new apartment buildings that will be optimized for home sharing and flexible living."
In February 2018, the company announced Airbnb Plus, a collection of homes that have been vetted for quality of services, comfort and design, as well as Beyond by Airbnb, which offers luxury vacation rentals.
(2018) Airbnb Plus, launch: a "tier of homes on Airbnb that have been personally verified for quality and comfort."
In March 2019, the company acquired HotelTonight, a website for booking last-minute hotel rooms, for over $400 million.
In August 2019, Airbnb acquired Urbandoor, a global online marketplace that offers extended stays to corporate clients.
By October 2019, two million people were staying with Airbnb each night.
(2019) HotelTonight, acquisition: An app and website that helps people book last minute hotel reservations.
In April 2020, Airbnb raised $1 billion in another round of funding from private equity firms Silver Lake and Sixth Street Partners.
Airbnb announced it plans to go public in 2020 on Thursday.
Airbnb on Thursday announced it plans to go public in 2020.
The startup did not specify a timeline beyond "during 2020." Airbnb has not clarified whether it has confidentially filed its S-1 IPO paperwork, which would include basic financial information for potential investors to consider.
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