India Had An AirBnB Equivalent In 2007, Jimmy Wales Had Used ItDecember 4, 2012 1:59 pm
There have definitely been multiple attempts on this with different flavors etc, but here is our reason behind spotting this:
1. You will have thousands of examples where a concept that has worked in developed markets are then replicated locally in developing markets. Developing markets tend to lag behind, generally speaking. This is why, you see India’s Amazon emerge only in the last 3 years.
2. In very rare occasions, you see some concept from a developing market getting replicated in developed markets. In the case of ExtraBed and AirBnB, sharing an extra bed probably came up in a developing market first, maybe due to cultural reasons.
Look for what new models are coming up in developing markets. Given the number of immigrants, people’s behavior in recession, or just curiosity, it might just work in developed markets. You never know.