7 Rejections for AirBnb in 2008, a Medium post by CEO Brian Chesky
Joyce Park stashed this in Tech biz
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:
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.