Getting into Y Combinator is tough. But Airbnb did it.
Not because their idea was good.
But because they made election-themed cereals😲
This is the incredible story of how Airbnb got into Y Combinator👇👇
Not because their idea was good.
But because they made election-themed cereals😲
This is the incredible story of how Airbnb got into Y Combinator👇👇
In 2008, Airbnb was in a bad shape.
The founders, Brian Chesky and Joe Gebbia were out of money. They had a $40,000 credit card debt. The third co-founder had left them😥
But they didn't give up💪
To keep funding Airbnb, they decided to sell election-themed cereals🥣
The founders, Brian Chesky and Joe Gebbia were out of money. They had a $40,000 credit card debt. The third co-founder had left them😥
But they didn't give up💪
To keep funding Airbnb, they decided to sell election-themed cereals🥣
They bought cheap cereal packets from a nearby store and packaged them in cereal boxes🎁: Obama O's and Cap'n McCain's.
It was a hit! Even though the cereal boxes were expensive($40), they sold out within 3 days!⚡
It was a hit! Even though the cereal boxes were expensive($40), they sold out within 3 days!⚡
The founders paid off their credit card debt with this cereal-box money. But they still couldn't fund Airbnb.
Plus, the founders now had no money. They couldn't even afford milk🥛, so they had to eat dry cereal🥣
When Brian Chesky's mom told him to buy some milk🥛, he said: “No, we’re just going to struggle through”.
When Brian Chesky's mom told him to buy some milk🥛, he said: “No, we’re just going to struggle through”.
They were about to give up in November when they met with a friend called Michael Seibel. He asked them to apply to Y Combinator🤩
The deadline for applications had passed, but YC's president, Paul Graham, agreed to extend the deadline.
The deadline for applications had passed, but YC's president, Paul Graham, agreed to extend the deadline.
They rushed home🏃♂️ → applied → got called for the interview → went for the interview and...
They flunked it😔
None of the interviewers believed in Airbnb's idea. "Who wants to stay in other people's homes?", asked Paul.
They flunked it😔
None of the interviewers believed in Airbnb's idea. "Who wants to stay in other people's homes?", asked Paul.
Brian and Joe were disappointed. As they were leaving, they gave a box🎁 of Obama O's to Paul.
He loved the box🎁 and asked where did they get it.
"We made it ourselves", they said and told him how they sold cereal boxes to fund Airbnb.
Paul was shocked🤯
He loved the box🎁 and asked where did they get it.
"We made it ourselves", they said and told him how they sold cereal boxes to fund Airbnb.
Paul was shocked🤯
As the founders were driving home, they got a call📞 from Paul saying Airbnb was accepted into Y Combinator. He said:
“If you can convince people to pay forty dollars for a four-dollar box of cereal, you can probably convince people to sleep in other people’s airbeds”😎
“If you can convince people to pay forty dollars for a four-dollar box of cereal, you can probably convince people to sleep in other people’s airbeds”😎
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Source: amazon.in/Airbnb-Story-D…
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