Tweet by Alex Garcia 🔍
Way before Airbnb topped a $100B valuation they were constantly rejected at just a $1.5M valuation.
Seven times to be exact.
Here's the email exchange between @paulg and @fredwilson where Paul pleads with Fred to invest in Airbnb 🧵
"There's no reason this couldn't be as big as Ebay."
We got an intro!
BUT, "It's a longshot, at this stage..."
Meet them...They're special
"Still very suspect"
Finally, a chance!
Some good signs
Damn, old guys...
Is that a light at the end of the tunnel?
"sheeeeessh, sheeeeesh" *insert viral tiktok sound
Yo Fred, think long-term
"Just do it" - Paul Graham
"Let me think, Paul" - Fred
Need more data thoooo...
All jokes aside, Fred Wilson now calls not investing in Airbnb a "big mistake."
And says that it's a "reminder to back great entrepreneurs whenever they walk into our office regardless of what they pitch us on.”
An amazing and inspiring email exchange between legends.
Usually, I only write about growth marketing but love this story sooo...
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Threads to come:
- ad development
- landing page development
- newsletter optimization
If you want another good read but marketing-centric then I think you'll enjoy this one too:
Original source: paulgraham.com/airbnb.html
Such a badass article from Paul Graham