Airbnb may seem like an overnight success story.
In 2008, three college graduates put their heads together from an apartment in San Francisco and completely reimagined the way we see vacation accommodation. Today, just ten years on, their platform features more than 4.5 million rental properties, from Scandinavian tree-houses to Fijian private islands.
But it wasn’t always an easy path, and the company’s founders certainly wouldn’t recommend one of the steps that got them there, as co-founder Joe Gebbia told CNBC’s “Managing Asia.”
In the early days of their business, having faced a string of rejections from investors, including the backers of YouTube, Paypal and Google, Gebbia and his partners Brian Chesky and Nathan Blecharczyk decided to opt for an alternative form of funding: credit cards.