Airbnb is reportedly raising a round of financing that will value the company at $10 billion and make each of its three young founders billionaires.

But things weren't always easy for the company. Airbnb stumbled throughout its first year and was rejected by investors like Union Square Ventures. 

The founders shared their first pitch deck with an MBA student, back when it wanted to be an air mattress rental company.

We gathered all the slides for you, here.

Airbnb used to be called "Air Bed & Breakfast."

The startup's goal was to keep costs down for travelers in need of rooms.

The site would be a win-win for hosts and guests: hosts make money, guests pay less.

At the time, had 630,000 users and was a market leader. Craigslist also had thousands of temporary housing listings in New York and San Francisco.

The available market looked large with 1.9 billion books tripped per year.

The product works the same way today.

Here's projected revenue. The company used to charge 10% per transaction. Now it charges hosts 3% of the total and guests 6-12%.

Here's how Airbnb planned to grow and find users.

Competitors included Craigslist and

Airbnb had a first-to-market advantage. And it's since paid off.

Just getting a company started? Check out what an early seed stage deck template looks like:

The Pitch Deck That Helped A Startup Land $6 Million From The Founders Of Dropbox, Yelp, Box, Yammer, And Gmail »

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