From 100 Rejections to $2B: GetYourGuide Story

"Don't do too much... Instead of hiring expensive new execs, I just promoted the best people in the company, which was the best thing I ever did."

• Avoid diluting focus by pursuing too many initiatives.
• Invest in team members who understand the culture.
• Deepen expertise in core areas before expanding.

"It used to take days to upload a product... now you just paste in a URL or upload files and done... AI insights on how you can improve your experience. All of that is pure magic."

• AI streamlines complex processes, increasing efficiency.
• Implement AI tools to enhance operations.
• Embrace AI to stay competitive and improve user experience.

"I had a hard time... I felt I wanted to be all in... Ultimately... that gave me another level of calm in the pandemic because I think it's a reasonable amount to take off."

• Taking some liquidity provides financial stability.
• Ensure it doesn't signal reduced commitment.
• Balance 'skin in the game' with personal well-being.

"Our product and organization... people on average cut their salaries by more than 30% in exchange for shares... With these measures, we could go very deep into the pandemic and only had to cut marginally."

• Strong culture can motivate employees to make sacrifices.
• Offering equity aligns team interests and fosters commitment.
• Preserving the team positions the company for recovery.

"We went from tens of thousands [of bookings] to literally zero revenue... We had 600, 700 employees... I needed to help the patient survive."

• Quickly shift into crisis management mode during unexpected events.
• Develop plans to ensure survival and future growth.
• Communicate transparently and focus on core strategies.

"It was a very deep diligence process... while I did get to meet Masa... It was very much a growth equity investment process, so there was nothing crazy about it."

• Major investments involve thorough diligence; be prepared.
• Meeting high-profile investors requires readiness.
• Large funds may follow traditional investment processes.

"We gained so much more respect when we went against the board and said we're not going to do this... We'll focus on this... suddenly VCs were like, yeah, we follow you."

• Confidently advocate for your strategic vision.
• Constructive disagreement can lead to better outcomes.
• Confidence in decisions builds investor trust.

"We made the biggest mistakes... hiring a bunch of people that were completely wrong for the stage of company, no culture fit... growth then started to really come down while expenses spiraled up like crazy."

• Be cautious about hiring executives who aren't the right fit.
• Focus on culture fit and stage-appropriate experience.
• Overexpansion can derail growth; stay focused on core objectives.

"No one would give a bunch of students money at the time for an idea that wasn't proven... We couldn't raise funding."

• Early-stage funding in Europe was scarce compared to the US.
• Persistence is key; despite 100 rejections, he kept pitching.
• Finding the right investor who believes in your vision can change everything.

"We didn't find product market fit like this first iteration was terrible... So we went back to the drawing board and... pivot into this much bigger market that's out there and that's just not digital."

• Johannes pivoted from a failing model to a larger, underserved market.
• Persistence and willingness to change led to discovering product-market fit.
• Identify market gaps where digital transformation can have significant impact.