Answer to Question #195431 in Management for Lucy

Question

explain how did the founders of Airbnb scanned the environment before starting their company?

Answer 1

Subsequent to their graduation from Rhode Island school of design, the Airbnb founders, Brian Chesky and Joe Gebbia moved to San Francisco for greener pastures. However, they struggled to pay rent as they had no jobs during the time. Looking around, they set their eyes on a billion-dollar opportunity that would forever change the travel industry. Assessing their environment, the founders noticed that hotels in San Francisco would be fully booked particularly during occasions and events. Identifying the opportunity, the concept of "Air Bed & Breakfast" came into fruition. They offered an air mattress and breakfast in their apartment securing three guests for $80 a night setting motion what would become a billion dollar company.