case study: airbnb by balthazar de lavergne
Post on 13-Apr-2017
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CASE STUDY: AIRBNBBALTHAZAR DE LAVERGNE
AN EASY RIDE ?✓ Built the wrong product first✓ Almost died before P/M Fit✓ Feared competition & regulation
ADVICES ARE NOT GENERICMINDSET IS
✓ Location, team, industry✓ Before - After P/M Fit✓ Create a market - Conquer a market
MEETING A PROBLEM✓ Paying their own rent✓ Designer conference in SF✓ Creating airbedandbreakfast.com
Airbedand breakfast screenshot
CREATE A MARKET✓ It takes time✓ You need the right team✓ You need to cross the chasm✓ You’re not all like this
100 FANS✓ More difficult than 1M likes✓ They are going to craft the al l
experience ✓ First users are even more important in a
marketplace
“One of the startups from the batch that just started, AirbedAndBreakfast, is in NYC right now meeting their users. (NYC is their biggest market.) I'd recommend meeting them if your schedule allows.I'd been thinking to myself that though these guys were going to do really well, I should introduce them to angels, because VCs would never go for it. But then I thought maybe I should give you more credit. You'll certainly like meeting them. Be sure to ask about how they funded themselves with breakfast cereal.There's no reason this couldn't be as big as Ebay. And this team is the right one to do it.”
“It's also counter-cyclical. They just arrived back from NYC, and when I asked them what was the most significant thing they'd observed, it was how many of their users actually needed to do these rentals to pay their rents.”
“This is after only a few months. I bet you they will get hotels eventually. It will start with small ones. Just wait till all the 10-room pensiones in Rome discover this site. And once it spreads to hotels, where is the point (in size of chain) at which it stops? Once something becomes a big marketplace, you ignore it at your peril.”
EXPAND TO MORE CITIES
✓ Conversion: Craigslist hack✓ Acquisition: PR, Word of mouth✓ No Adwords, that’s after P/M fit
◊FEAR COMPETITION✓ After P/M Fit✓ It’s always future competition when you create a market
✓ Rocket Internet launched Wimdu
GO EVEN FASTER TO EUROPE
✓ Scaled to 10 offices in 3months✓ Dramatically changed the company in 1 year
ATTENTION TO DETAILS✓ The 7 star experience✓ The superhost program✓ The office✓ The design✓ The daily email
TIME HORIZON✓ Before P/M fit you need to survive —> Week✓ After you get a plan —> Month / year✓ Never think 10 years from now until you’re rock solid
AND THEIR FUTURE ? ✓ 52% of americans never heard of Airbnb✓ “20% of our business are now stays longer than 30 days”
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