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If you’re still waiting, here are some interesting anecdotes of famous founders and their fundraising journeys:
Brian Chesky of Airbnb: “We were rejected by literally hundreds of investors before we got our first yes.”
Travis Kalanick of Uber: In their Series A pitch deck, Uber projected a total TAM of $4 billion, however since then the low price of taxis and increased availability has grown the global ride-hailing market to over $100 billion annually.
Slack, initially started as a gaming company, but once the team realised that they weren’t succeeding, they pivoted into one of the features that they had built for their users and this became the messaging app we know today.
Spotify approached every VC in Europe when fundraising for their Series A, only to be rejected by every fund except Northzone and Creandum.
Netflix was forced to lay off 30% of their staff in 2001, as they were struggling to raise capital in the dot-com bust. Interestingly Reed Hastings (the founder) said that once these staff were fired, the remaining employees got more productive and the overall output at Netflix increased!
The staff that were fired slowed down decision-making and frustrated high performers.
