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Long before Airbnb was estimated to be worth $18 billion, they faced continuous rejection at a $1.5M valuation.
7 times to be exact when first seeking funds.
5 rejections.
2 left on read.
So they applied to Y Combinator…
7 times to be exact when first seeking funds.
5 rejections.
2 left on read.
So they applied to Y Combinator…
...And got accepted even after Paul Graham said, “the idea is terrible.”
Fast forward; Paul Graham pleads with VC Fred Wilson to invest in Airbnb and yet another rejection.
A rejection that Fred Wilson now calls a big mistake.
Fast forward; Paul Graham pleads with VC Fred Wilson to invest in Airbnb and yet another rejection.
A rejection that Fred Wilson now calls a big mistake.
Fred Wilson now uses the mistake as a “reminder to back great entrepreneurs whenever they walk into our office regardless of what they pitch us on.”
Paul Graham published the exchange of emails between himself and Fred Wilson that detail his wheels spinning on the idea of investing in Airbnb.
You can’t win them all but you can learn.
Here’s the email exchange
You can’t win them all but you can learn.
Here’s the email exchange
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