Back
Vishu Bheda
•
Medial • 1m
Brian Chesky explains how Airbnb solved the chicken-and-egg problem Marketplaces are tough to build. No buyers, no sellers. No sellers, no buyers. This problem almost killed Airbnb. Homeowners wouldn’t list their homes because no one was booking. Travelers couldn’t book because there were no homes. So, how did Airbnb fix this? They started small, went deep, and found the right moment. The Breakthrough In 2008, Barack Obama’s DNC speech moved to a bigger stadium. Suddenly, 60,000 people needed a place to stay. Airbnb jumped in: Started local – Got Denver residents to list their homes. Used the media – Bloggers wrote about it. Then local news. Then CNN & The New York Times. Built momentum – Repeated this for Obama’s inauguration. The Secret to Growth Paul Graham, their first investor, told them: "It’s better to have 100 people love you than a million who kind of like you." So Airbnb focused on their first 100 users—meeting them, fixing their problems, making them love the product. These users told their friends. Word spread. Growth exploded. What You Can Learn Start small. Make your first 100 users love you. Let them spread the word. That’s how you build a startup that lasts. Follow Vishu Bheda for more valuable startup insights from the world's best founders!
Replies (10)
More like this
Recommendations from Medial
Download the medial app to read full posts, comements and news.