524: In Retrospect - From Air Mattress to $31 Billion | The UNLIKELY Rise of Airbnb

Today, we're diving back into the Foundr Podcast archive to bring back a true highlight of an interview with Airbnb co-founder, Joe Gebbia. How do you raise capital for your startup? Well, if you ask the co-founder of Airbnb Joe Gebbia, he’ll tell you what worked for him: Cereal. That’s right, the company that started with a single air mattress and grew to a $100 billion empire was kept afloat by selling custom cereal boxes. It was bizarre but it worked. Gebbia muses in this episode of the Foundr podcast: “We made $20,000 in breakfast cereal, and we're able to basically pay off our credit card debt...The cereal, funnily enough, was how we were able to help keep the options open for us until eventually, the invitation came for Y Combinator.” In undoubtedly one of our most riveting episodes, Gebbia recounts his incredible journey from struggling to pay rent, to Airbnb’s first angel investor, to one of the biggest brands in the world and Gebbia’s incredible charity work. Gebbia is candid about how he overcame countless rejections and problems. Listen in as he shares specific advice for entrepreneurs looking to create the next industry disrupter: “You can see what’s hot. You can go after an emerging industry... Or you can solve a problem. Your own problem. Airbnb was our own problem. We had a rent check that we couldn’t pay. And it forced us to come up with a new way of making ends meet.” Click here to start your business for $1. You’ll get all-access foundr+, where you’ll find more in-depth, proven strategies from founders like our guest today and support and advice from our global community of 30,000 founders. If you loved this conversation and learned something new, rate and review this episode. Stay in touch with us, follow foundr on your favorite platform: Foundr.com Instagram YouTube Facebook X LinkedIn Magazine

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Hear the stories, learn the proven methods, and accelerate your growth and future through entrepreneurship. Welcome to The Foundr Podcast with Nathan Chan.  About the show:  For over a decade, The Foundr Podcast with Nathan Chan has been a leading entrepreneurship podcast for open-book conversations with, by, and for founders. Whether you're starting, building, or dreaming about your business, The Foundr Podcast is where you can access experienced founders who've been in your shoes to learn their proven methods, lessons from failure, and inspirational stories.  Past guests include Emma Grede, Mark Cuban, Neil Patel, Kendra Scott, Alex Hormozi, Trinny Woodall, Tim Ferriss, Sophia Amoruso, Simon Sinek, Tony Robbins, Amy Porterfield, Ed Mylett, Michelle Zatlyn, Reid Hoffman, Scooter Braun, Dany Garcia, Marc Lore, Ariana Huffington, Pat Flynn, Lewis Howes, Jordan Harbinger, and many more.  About the host:  Nathan Chan is the CEO of Foundr and the creator of The Foundr Podcast. Chan literally started from knowing nothing. He was just an average guy working in a 9-5 job he utterly hated. He knew nothing about entrepreneurship, nothing about startups, nothing about marketing, and nothing about online or how to build a business. In the past decade, Chan's built Foundr into a global leader in entrepreneurial education, helping tens of thousands of aspiring entrepreneurs start and scale their businesses.  Need help with your business?  Visit foundr.com/foundrplustrial to join a global community of entrepreneurs, gain access to proven strategies, and fast-track your business growth confidently.