It’s been slightly over a year since we launched Beyond Pricing as the first data-driven dynamic pricing and revenue management engine for Airbnb hosts and what a ride it’s been.
Today we announced some impressive milestones to the press but we wanted to take a moment to highlight how our community and mission has grown this last year.
Most notably, since we launched in June of last year, we’ve grown from a few brave souls in San Francisco (shout out to Fran and Ivan, our first intrepid users) to over 10,000 listings on our platform and recorded over $30 million in bookings for our hosts. By our estimates, we’ve grown faster than Airbnb did in its first year.
Moreover, when we started a year ago it was incredibly rare to see hosts on Airbnb with more than 1 or 2 different prices, often just a weekday and a weekend price. If they had varying prices, it was 99.9% because they were using Beyond Pricing. Now, almost all hosts do at least some degree of rate management, whether using Beyond Pricing or Airbnb’s own Price Tips, which they launched nearly 9 months after we started. We’re excited to see the whole ecosystem embrace dynamic pricing and are proud to have spearheaded the movement.
We humbly started our endeavor in our home city of San Francisco, which we knew like the back of our own hand - we are now in over 50 global markets in 20 different countries across the world. We recently launched in over a dozen new global cities, including some of the largest international markets like Madrid, Milan, Istanbul, and Melbourne as well as rapidly growing US cities like Atlanta, New Orleans, Lake Tahoe, and Philadelphia.
In our most mature markets, such as London, Paris, Chicago, Boston, and Amsterdam, we are quickly approaching powering the pricing of 10% of listings using the service.
Because we built Beyond Pricing to work anywhere, and because we identify peaks in demand and changes in seasonal demand algorithmically, it’s been especially fun to identify major events that we never knew existed in far flung cities, whether it’s Osheaga in Montreal or cherry blossom season in Tokyo.
When we started as Beyond Stays back in November of 2013, we were one of the first to help hosts and owners manage their places. Our roots were and still are in hosting and we have the great pleasure of living vicariously through our dozens of property manager and hospitality partners. Now, just a year later , we’ve created the largest network of property managers and hospitality brands in the emerging urban short-term rental space, from established brands like onefinestay with thousands of listings world-wide to fast-growing upstarts like Airsorted in London to regional property managers like Guesthop in California and Washington.
Hosts and owners can find a service provider that matches their needs on Beyond’s partner page. All partners are vetted and all property manager partners maintain at least a 4.5 star rating on all of their listings, and we are always looking to expand our partner network to provide the best complimentary service options for our hosts.
As recently as last December, we were just two guys working hard in our humble shared space in San Francisco SoMa district. We’re still a small team, but we’ve added a few amazing new hires to the Beyond Pricing team since our seed funding announcement to grow and scale our business, product, and technical infrastructure. Our most recent hire as VP of Engineering, Jason Rubenstein, was formerly a VP of Engineering at Live Nation, VP of Engineering at Neil Young's Pono Music, and an early engineer at Max Levchin's Slide, which was sold to Google in 2010. We’re incredibly fortunate to have such an experienced and talented engineer join and lead our growing team. (and yes, we’re hiring!)
Most importantly, our hosts have been the backbone to this entire first year, and have provided invaluable feedback and support for our team and product throughout this experience. The startup journey can be a roller-coaster of valleys and peaks, but the support and kind words from our users have kept us pushing forward. When you’re doing something new and hard, every kind word is appreciated, be it about how much we’ve made you (“I was skeptical of using a pricing tool at first and was shocked at how fast bookings surged. Overall we've seen our bookings quadruple in the space of 60 days.” - Justin), how great our customer service is (“I've been using Beyond Pricing for a couple months and your advice and Airbnb strategy guidance alone is more than worth the fee.” -Celia), or of the more off-color variety (“I'm really wondering why Airbnb's pricing system is still absolutely shit... If I would own Airbnb, I would have already paid you guys some millions and taken over BP... ;)” - we’ll leave him/her anonymous).
For that reason alone, we could not be more enthusiastic to continue to better our business and product for our users to bring them software that makes their life that much easier and their business that much more profitable.
Stay tuned - there’s a lot more to come.
Cheers to a bright future,
The Beyond Team
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