In Case Study #19 Tom Ellsworth, The Biz Doc, takes a look at Airbnb an online community marketplace for people to list, discover, and book accommodations around the world.
Airbnb rocketed to a $1B valuation in 2 years after graduating the Y-Combinator incubator and now boasts a $30B valuation (Q1 2017) after raising over $4B.
This success story includes two very interesting and important lessons:
– Get Connected to customers or users early and effectively (don’t guess or rely on research reports).
– Find Mentors Early. Bring in advisors that know the space or have functional expertise. (And definitely consider applying to an incubator.)