From small company to Airbnb issues which many other large firms face
Growing a company is never an easy task. Some people might have their own small business and be fully aware of the issues surrounding scalability. It can be easy to earn a certain amount, maybe enough to get by, but moving beyond that can prove complicated. This infographic from Half Price takes you through some of the major milestones in the growth of Airbnb.
It was founded in 2008 and few could have envisaged the size and the impact of the company we see today. It began as a simple means to an end when the founders rented mattresses in their house to cover rent for the month. From there the idea for the company was born but they could never have envisaged what it became. They perhaps figured that they could make a living of it but no one could have predicted that the founders would now be worth of $11.4 billion. It’s amazing the progress Airbnb has made in as little as 9 years and it is now one of the first places people think of checking when looking for accommodation.
The company struggled in the beginning to make ends meet and had to resort to some unusual tactics to keep the company afloat. In the lead up to the 2008 presidential election, the founders sold cereal boxes with pictures of Barack Obama and John McCain at $40 a pop and eventually raised over $30,000.
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One wonders what might have happened the company if they hadn’t able to raise that money. The interesting thing about business is that good ideas don’t always result in successful companies. Funding can often be a big stumbling block along the way and it may simply not be possible to keep a company running. Airbnb was lucky because they received funding at important junctures.
Of course, Airbnb issues have arisen and the company has faced criticism on many grounds. Much has been written about Airbnb issues including, safety, trust, and discrimination and the company are having to work hard to ensure these issues are dealt with effectively. In truth, when a company grows so quickly, there are always going to be teething problems and Airbnb will need to work hard to ensure these stories don’t have too detrimental an impact on the business.
Check out the infographic for more information about the growth of Airbnb that they’ve faced, and what the future holds for a company that has transformed the travel industry.