Sign up FAST! Login

7 Rejections for AirBnb in 2008, a Medium post by CEO Brian Chesky


Stashed in: Founders, Airbnb, Funding, Awesome, startups, Medium, airbnb

To save this post, select a stash from drop-down menu or type in a new one:

Hilariously honest look at how much AirBnb -- now the darling of Silicon Valley -- had to crawl to get financing early in their history.

Holy smokes, this is refreshingly honest:

On June 26, 2008, our friend Michael Seibel introduced us to 7 prominent investors in Silicon Valley. We were attempting to raise $150,000 at a $1.5M valuation. That means for $150,000 you could have bought 10% of Airbnb. Below you will see 5 rejections. The other 2 did not reply.

Airbnb is now worth $24 billion.

Brian Chesky says to think of this the next time you're rejected:

https://twitter.com/bchesky/status/620302915593318400

Reasons Airbnb was rejected:

1. Not our area of focus. 

2. Not a big enough market opportunity.

3. Not an area we have expertise in.

4. Not enough traction.

5. Not enough technical expertise on team.

6. "We've always struggled with travel as a category."

It is amazing how the hugeness of Airbnb was so unclear in 2008. 

You May Also Like: