Airbnb: How an idea to rent out air mattresses shook up the hotel industry and made billions

Although it just went public in 2020, Airbnb (ABNB) has already built itself into the go-to choice for short- and long-term home stays and experiences. Airbnb's gross profit in 2023 was nearly $8 billion, more than a 20% increase year-over-year.

Let's take a look at what led to Airbnb's boom with Beyond the Ticker, where we dive into some of the company's biggest moments.

2007

In 2007, Brian Chesky and Joe Gebbia created the initial concept for Airbnb.

2008

One year later, the Airbedandbreakfast.com website launched – renting out 3 air mattresses within their San Francisco loft.

2009

In 2009, the website was shortened to Airbnb.com and expanded from air beds and shared spaces to a wide variety of properties.

Later that year, Airbnb raised $585,000 from Sequoia Capital in a seed round – valuing the company at $2.4 million.

2011

By 2011, Airbnb announced it hit 1 million bookings on its website and reached "unicorn" status – the privately owned startup was now valued at $1 billion.
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