Airbnb

In 2007, Brian Chesky and Joe Gebia couldn't make rent in San Francisco. A design conference was coming and every hotel was booked solid. They bought three air mattresses, put up a basic website, and charged $80 a night for a spot on their apartment floor. Three strangers showed up and paid. The next morning, a company existed that hadn't existed the night before. They pitched the idea to investors for two years. More than 40 said no. Nobody would sleep in a stranger's apartment. To keep the lights on, they sold novelty cereal boxes during the 2008 election, Obama O's and Captain McCain's. Hand-packed enough boxes to fund the company a few more months. When bookings finally started, Airbnb owned nothing. No buildings, no beds, no cleaning supplies. Hosts supplied everything. The rooms, furniture, local knowledge, towels.