in there is always a kind of the trait most successful entrepreneurs: won’t stop because of rejection. Rental service, growing company valuation is now up to $25.5 billion, its story also proved the importance of this trait.
“in 2008, an established for when a $1.5 million valuation for $150000 in financing, we contacted seven famous venture capital firms, but were refused.” Growing company co-founder and CEO Brian Chesky said in an interview.
one of five companies tell us why not investment, there are two even bother to reply. Chesky released by email (of course are anonymous) lists the various reasons for refusing, from “the company is not in the scope of the attention of venture capital” to “it lacks enthusiasm for tourism related business”.
a potential market of a vc said an “is too small for we need to make the investment”.
Chesky said if there are investors gave them $150000 at the time, the investor can have now Airbnb10 % of the shares. We have just said an $25.5 billion now?
this is released, Chesky email:
“thank you for your introduction, though the idea is very interesting but it is not what we want, at least, is beyond the scope of our concern. I wish you good luck.”
“how are you, Brian. I’m sorry to reply you so late. We had a internal discussion, unfortunately this is not a investment opportunity for us. Your potential market is not so big we need.”
“I and my colleagues are discussed, first of all, this is not one of our five priority investment market, so for us, this is a risky investment. Second, because this is not our area. Our investment will not bring you good professional knowledge.
I hope you can continue to let us know your progress, if you to A round of funding, please let us know.”
“thank you for your inform. I am very bullish on your work, but now I have business to attend to ABB, there are a lot of other projects, especially now that the ongoing investment, I really can’t make an investment. I care about most is:
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, and technical personnel
, investment group
“yesterday we decided not to invest. We have some hesitation for tourism industry, we know that this is the first choice for electricity
a, but I don’t know why we are not interested in the tourism industry.”
“the idea of the next time you was refused again, think about these emails.” Chesky said.
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