If you’ve ever tried to launch a big idea, then you’d agree with me that getting funding for a startup can be really hard. Ask most entrepreneurs what their biggest business barriers are and they would unanimously echo “a lack of funding.” It gets even harder when there is no existing product or prototype.
Like most entrepreneurs, Vlad Tenev and his friend Baiju Bhatt were in the same shoe, in search of funding for their idea - Robinhood. They literally had to slice through rejection upon rejection until they got their big break.
Today, Robinhood, the commission-free stock-trading app, is making headlines on media outlets. From multiple reviews by bloggers to how-to videos by YouTubers, this app has been particularly alluring to young traders who want a piece of the stock market. Whilst Robinhood has grown to become a household name, very little is often said about how the company scaled through multiple rejections.
Tenev and Bhatt have succeeded in building an empire worth around $7.6 billion. But before there was an empire, they had to go through 75 rejections. Talk about persistence.
In today’s video, we will explore Robinhood’s story and pick a lesson or two.
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