Airbnb's Founders Sold $30,000 In Cereal Boxes Inspired By Obama And McCain During Company's Early Funding Days

Some elements of this story were previously reported by Benzinga, and it has been updated.

Many people probably know the story of Airbnb's humble beginnings.

In 2007, founders Brian Chesky and Joe Gebbia started charging $80 a night to rent out part of their San Francisco apartment. What some might not know is that they also sold novelty cereal boxes during their early funding days to bring in some needed cash.

What Happened: In 2008, the Airbnb (NASDAQ: ABNB) team sold novelty cereals called “Obama O’s” and “Cap’N McCains” during the presidential election.

Each box, which included cereal inside, had a limited print run of 500 boxes. The company sold out of boxes and even saw celebrities like Perez Hilton and Katy Perry buy the product. Five percent of profits from the boxes sold went to the presidential campaigns.

In 2020, Public.com created 500 limited-edition boxes of IPOats to celebrate Airbnb's upcoming IPO. Public created 500 boxes to pay tribute to the startup story.

Related Link: Airbnb IPO Filing: 5 Key Takeaways Investors Need To Know

Why It’s Important: Airbnb started with the simple idea of offering a room to rent to help bring in additional income.

Chesky and Gebbia recognized that a conference in the area led to hotel rooms selling out and saw an opportunity to appeal to attendees looking for a last-minute place to stay.

The company also seized an opportunity to sell novelty cereal boxes to help bring in $30,000 to help with operations in the early days.

Photo: Wikimedia Commons