💡One way to start a startup...

Initial funding for Airbnb came from selling boxes of repackaged generic cereals coined as 'Obama O’s’ and ‘Cap’n McCain’s’ during the 2008 US presidential election.

By pitching the cereals as
a limited-edition collector item, Airbnb founders sold each box for $40. This wildly creative idea helped generate about $30,000 then.

Today, 16 years since it was founded, Airbnb is worth more than $80 billion.

#nowyouknow @financialfreedommagazine

"Do things that don't scale."

― Paul Graham
#Quoteoftheweek

Real estate investing questions for you 🫵🏼

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Back in 2007, Reggae singer and chef Levi Roots pitched his spicy Reggae Reggae Sauce to the Dragons’ and successfully managed to secure £50,000 to manufacture his product.

In return, Levi Roots was offering 20% of the equity in his business. The sauce is a secret recipe from Levi's grandmother. He was told there was “no
future for this business” by Duncan Bannatyne but Peter Jones and Richard Farleigh saw something else and invested £50,000 for 40% equity in the company.

Reggae Reggae sauces are now stocked in all major UK supermarkets, taking London-based Roots’ worth to an estimated £30 million according to the Sunday Times Rich List.

Aaron Krause, the "Scrub Daddy," entered the Shark Tank seeking $100,000 for 10% of his smiling-face sponge - Scrub Daddy, a smiley face-shaped sponge that changes hardness depending on water temperature. The double-sided mouth portion of the sponge’s smiley face design is intended to make scrubbing utensils easier.

Lori Greiner invested $200,000 for a 20% stake. In 2023, the net worth of Scrub Daddy is $250 million, making it one of the most successful products pitched in the tank.

Top three Dragons' Den rejects that went on to make millions 🐲

1. Shaun Pulfrey's Tangle Teezer
2. James Nash's Cup-a-Wine
3. Rob Law's Trunki Suitcase

Aerodrums was founded in 2011 by Richard Lee and Yann Morvan to solve the problems that drummers have when transporting their instrument.

The idea was to make a revolutionary air-drumming instrument to allow users to practice their skills using virtual reality which they've successfully productized.

In January 2016 they appeared on Season 13th of Dragons’ Den UK seeking £75,000 for 5% of equity valuing the company at £1,500,000.

The first Dragon to back out was Touker Suleyman because he thought there was no value in the business. Lee and Morvan were offered the £75,000 investment between two Dragons but with a 40% stake in the company.

The founders declined the offer because they believed it was too much equity to give up.

As of 2021, the company is estimated to be worth about $10 million (a bit dated stat, right?... but still they're in business) watch their dragon's den pitch, you're going to learn a thing or two about deal making or not making 😀😉 ⬇️

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