Remember how we used to use Uber to describe how our startup idea was great? “It’s the Uber for the … industry” was on every startup pitcher’s mouth. Well, with Uber on the brink of bankruptcy another company is on its way to replace it as the epitome of what a startup means: AirBNB. Currently making a profit of 2.6 billion dollars, functioning with over 6300 employees, and privately valued at 31 billion dollars, AirBNB is no longer just “the Uber for the hotel industry”. It has quickly become the it-girl of the startup world.
But, like all startups, the Airbnb founders had to go through the pitching phase. To show you how they made their pitch, we recreated their pitch deck on Decktopus. You can easily access the Airbnb Pitch template here. Let’s check out what’s inside:
- An Introduction Slide: This slide included their startup name, logo, their one-liner “Book rooms with locals, rather than hotels” and a representative photo.
- The Problem Statement: They outlined the 3 key points for a customer looking to book a room.
- The price: This is the number 1 concern for customer booking travel online
- Far from the city culture: Hotel keeps you away from the city and its culture
- No Easy way exists: Booking a room with a local or becoming a host is hard
- The Solution: Where does Airbnb come in? What is their unique value proposition? Well, they created a web platform where users can rent out their spaces. In fact, with this product you can:
- Save money when traveling
- Make money while hosting
- Share culture with a local connection to the city
- Market Validation: The current number of total users on similar platforms like Craigslist and couchsurfing.com. It is good to highlight the opportunity in the market through the competition. This slide could have also outlined the current profit, private valuation, and so on.
- Market Size: This slide outlines how AirBNB can and has filled the gap. Showing how large the available market invites more investor attention and increases the likelihood of better valuation.
- How It Works: A step by step visual explanation of the product helps walk the audience through your process. This is especially useful for startups offering a complicated product.
- Search by location
- Review Listing
- Book it
- Business Model: One might ask, how is AirBNB making the money? In this case, they are using the commission model which allows for a lot of profit. The expected revenue is key to highlight here.
- Market Adoption: The pitch deck goes on to highlight the unique ideas they will bring to the table with “Target Events Monthly”, “Partnerships”, “Craigslist Dual Posting Feature”.
- Competitors: Listing out the competitors help because then you can point to the loopholes in the market and how Airbnb has a competitive advantage.
- Meet the Team: How will your team members contribute to the business? Why is it these people out of everyone that will fill this market gap and make it happen?
- Testimonials and Press: These slides are their way of saying, “Hey look, people are already using my product and loving it!”
- Financial Request: What they want out of this presentation. What kind of investment are they looking for?
Why is this pitch deck successful? Simple: it is simple(!). It is extremely clear, easy to follow, succinct, and visibly engaging. There is not too much content on the slides and the slides are colored with visuals. It is easy to keep the audience engaged in the material. It is not a surprise that the Airbnb team was successful with this pitch deck.
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