Unbelievable story on how Airbnb just started out and doubled their revenue in a week
In 2009, Airbnb’s revenue was flatlined at $200 per week.
Yeah – just $200.
I know – sounds unbelievable (now Airbnb is valued at $30 Billion).
One afternoon, the team was poring over their search results, trying to figure out what wasn’t working,… and noticed a pattern – their photos sucked.
Paul Graham (Y combinator) suggested the team do something that doesn’t scale:
1. Travel to New York.
2. Rent a camera.
3. Replace the amateur photography with beautiful high-resolution pictures.
A week later, the results were in:
improving the pictures doubled their weekly revenue to $400 per week.
This was the first financial improvement that the company had seen in over 8 months.
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