As Airbnb became more popular and local governments tried to push the company out, Chesky did whatever he could to make Airbnb comply with local laws so the hosts could continue to rent out their spaces.īesides revolutionizing the lodging industry and helping to popularize the sharing economy, Chesky and Airbnb are credited with creating a business that revolves around trust. Facing backlash from hosts about property damage caused by Airbnb guests, Chesky put in place a $1 million damage coverage policy that would apply to all properties. The ideal really took off during this period in 2011 Airbnb was declared a “unicorn” with a valuation of over $1 billion.Ĭhesky took host and traveler feedback to heart as Airbnb’s product continued to evolve. They visited hosts in person, redesigned their logo and branding, and changed the company name to Airbnb. A year later, Airbed and Breakfast was invited to join startup accelerator Y Combinator, which gave them credibility and exposure to investors who eventually decided to fund the company.ĭuring 20, after receiving investment from Sequoia Capital, Chesky and his team put their design backgrounds to use and refined the guest experience. Since they couldn’t secure outside funding, the three co-founders sold custom cereal boxes before the 2008 presidential election, which gave them a small source of income. In 2008 they began pitching the idea to investors, but the investors weren’t receptive. Three guests ended up booking on the first weekend.Ĭhesky and Gebbia recruited their friend Nathan Blecharczyk to join the founding team, and together they perfected the concept, from designing a user-friendly website to doing market research. Gebbia and Chesky were struggling to pay their rent, so they decided to put a couple of air mattresses in their living room and sell the “Airbed and Breakfast” concept during the conference. In 2007, while living in San Francisco with his roommate and future Airbnb cofounder Joe Gebbia, who he met at RISD, Chesky noticed that the city’s hotel rooms were completely sold out during a conference. While growing up, he was interested in art, architecture, and design, which led him to study industrial design at the Rhode Island School of Design, graduating with a BFA in 2004. Brian Chesky, born on Augfar from Silicon Valley in Niskayuna, New York, is the founder and CEO of Airbnb.
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