The vacation rental company is accepted into the winter batch and receives $20,000 in funding. Chesky, Gebbia and Blecharczyk sell 800 boxes of Obama O’s and Cap’n McCain cereal they designed themselves, raising $30,000 in seed capital, which is what convinces the firm to let them in the program. Graham:
When we funded Airbnb, we thought it was too crazy. We couldn’t believe large numbers of people would want to stay in other people’s places. We funded them because we liked the founders so much. As soon as we heard they’d been supporting themselves by selling Obama and McCain branded breakfast cereal, they were in.