2 EXECUTIVE SUMMARYWe have chosen Airbnb as we found it to be most relevant to our BabyKare product, on account of the online marketplace functionality. Airbnb was started in 2008 with a micro-insight of ‘The Artist’. Two roommates who couldn’t afford to pay their rising home rent decided to turn their loft into an area that could fit three air mattresses and rented it out to travelers looking for economical accommodation. When these two parties converged, it gave rise to Airbnb, a platform that connects the people who are willing to host short-term lodging at their place, with guests/travelers seeking accommodation and open to meeting new people. This has changed the meaning of traveling altogether, it provides the opportunity to stay with new people and explore their cultures; now a traveler can get a better exposure to a culture by staying among the people, likewise the hosts can learn about the traveler’s culture. Before Airbnb, people used conventional places to stay, such as hotels, which charged premium prices and lacked a personal connect. The job Airbnb managed to get done is– ‘Find a lodging facility that is cheaper and more flexible than the conventional hotels’. Airbnb underwent several iterations of their user experience as well as their business model. It overcame critical challenges of trust and mitigated stranger-danger bias through effective design solutions. Innovation insights: Airbnb tested the current market and validated the need for their product by starting with a simple website that allowed users to perform basic tasks such as post accommodations, search and connect. This simple website was Airbnb’s MVP that allowed them to gain valuable insight of what their potential customers would want. It also helped them validate the market and prove that there is a market for users who are willing to stay in someone’s home rather than a hotel.