This Is $10 Billion-Dollar Airbnb's First-Ever Pitch Deck
<img style="float:right;" src="http://static5.businessinsider.com/image/532c388f6bb3f7a7215b5575-1024-768/2268953971_9d74069fb3_b.jpg" border="0" alt="airbnb joe gebbia cofounder" />Airbnb is reportedly raising a round of financing that will value the company at $10 billion and make each of its three young founders billionaires.
But things weren't always easy for the company. Airbnb <span style="line-height: 1.5em;">stumbled throughout its first year and was rejected by investors like Union Square Ventures. </span>
The founders shared their first pitch deck with an MBA student, back when it wanted to be an air mattress rental company.
We gathered all the slides for you, here.
<h3>Airbnb used to be called "Air Bed & Breakfast."</h3>
<img src="http://static4.businessinsider.com/image/4e82442b6bb3f78e6c000031-400-300/airbnb-used-to-be-called-air-bed-and-breakfast.jpg" alt="" />
<h3>The startup's goal was to keep costs down for travelers in need of rooms.</h3>
<img src="http://static3.businessinsider.com/image/4e82442feab8ea595b000014-400-300/the-startups-goal-was-to-keep-costs-down-for-travelers-in-need-of-rooms.jpg" alt="" />
<h3>The site would be a win-win for hosts and guests: hosts make money, guests pay less.</h3>
<img src="http://static1.businessinsider.com/image/4e8246e669bedd326b000018-400-300/the-site-would-be-a-win-win-for-hosts-and-guests-hosts-make-money-guests-pay-less.jpg" alt="" />
<h3>At the time, Couchsurfing.com had 630,000 users and was a market leader. Craigslist also had thousands of temporary housing listings in New York and San Francisco.</h3>
<img src="http://static1.businessinsider.com/image/4e824444eab8eaca50000042-400-300/at-the-time-couchsurfingcom-had-630000-users-and-was-a-market-leader-craigslist-also-had-thousands-of-temporary-housing-listings-in-new-york-and-san-francisco.jpg" alt="" />
<h3>The available market looked large with 1.9 billion books tripped per year.</h3>
<img src="http://static5.businessinsider.com/image/4e82444d69bedd156200005e-400-300/the-available-market-looked-large-with-19-billion-books-tripped-per-year.jpg" alt="" />
<h3>The product works the same way today.</h3>
<img src="http://static5.businessinsider.com/image/4e824424ecad040a7b00002e-400-300/the-product-works-the-same-way-today.jpg" alt="" />
<h3>Here's projected revenue. The company used to charge 10% per transaction. Now it charges hosts 3% of the total and guests 6-12%. </h3>
<img src="http://static2.businessinsider.com/image/4e8244526bb3f7aa6c000020-400-300/heres-projected-revenue-the-company-used-to-charge-10-per-transaction-now-it-charges-hosts-3-of-the-total-and-guests-6-12.jpg" alt="" />
<h3>Here's how Airbnb planned to grow and find users.</h3>
<img src="http://static1.businessinsider.com/image/4e82446169bedd7a78000002-400-300/heres-how-airbnb-planned-to-grow-and-find-users.jpg" alt="" />
<h3>Competitors included Craigslist and Hostels.com</h3>
<img src="http://static6.businessinsider.com/image/4e82446a69bedd7e76000008-400-300/competitors-included-craigslist-and-hostelscom.jpg" alt="" />
<h3>Airbnb had a first-to-market advantage. And it's since paid off.</h3>
<img src="http://static4.businessinsider.com/image/4e824470eab8ea605d000007-400-300/airbnb-had-a-first-to-market-advantage-and-its-since-paid-off.jpg" alt="" />
<h3>Just getting a company started? Check out what an early seed stage deck template looks like:</h3>
<img src="http://static2.businessinsider.com/image/532c84696da81111365b5575-400-300/just-getting-a-company-started-check-out-what-an-early-seed-stage-deck-template-looks-like.jpg" alt="" />
<b>See Also:</b>
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