The Missed Airbnb Investment, Now Worth $250 Million
At SXSW, Brian Chesky, co-founder and CEO of Airbnb, reminisced about the difficulties of building a business.
Photographer: David Paul MorrisThis article is for subscribers only.
Airbnb Chief Executive Officer Brian Chesky still crashes on couches. The difference is that now, Chesky, the co-founder of the service that lets people rent out rooms and homes online, doesn’t have to.
Before the 6-year-old company took off, Chesky was so desperate for money that he was offering a 10 percent stake in Airbnb for $100,000. Everybody passed. One investor walked out of a pitch meeting at a restaurant, leaving behind a half-finished smoothie on the table, Chesky recalled on stage at the South by Southwest Interactive conference today in Austin, Texas.