We learnt from Steve Blank that Startup = Growth but growth is always hard to handle. You need a lot of cash to survive and if you don't find it, it could end as fast as you grow. Entrepreneurship is about courage and you need a lot of it to make the right decision while you're growing.  HotelTonight is the world’s first made-for-mobile hotel booking app and Jared Simon, their COO and Cofounder, is coming from San Francisco to tell us how they managed to both grow and become profitable in 7 months. In 2015, HotelTonight decided to focus on profitability. They reassessed all their expenses and made a lot of hard choices, including cutting 20% of their staff. A few months later, HotelTonight became profitable and closed a $37M series E round led by Accel Partners. With rumours of an IPO later this year, we're excited to learn from what could become the next billion $ company. ⚡️

1. Journey To Profitability
@jaredsimon Ÿ The Family Ÿ May 2017

2. A Little Background

3. In the beginning, all that matters is growth.

4. Growth fuels fundraising.

5. ‘Endless’ resources can obscure
unsustainable decisions.

6. We had expanded our vision.
And now we had a decision to make.
OFFLINE ONLINE MOBILE

7. The Profitability Journey

8. Journey began with layoffs

9. Focused team on only the essential metrics.

10. We never stopped investing.

11. But we strictly based all decisions on ROI.

12. Included only knowns in all forecasts.

13. Ramped up transparency.

14. Some Lessons

15. Once the problem is identified,
move quickly.

16. Be honest and objective about
what is necessary.

17. Acknowledge that the
environment is different.

18. VCs aren’t perfect. Only you are
responsible for your decisions.

19. Make sure everyone is clear on the
goal and the timing.

20. Set conservative expectations.
Winning is contagious.

21. Don’t lose your soul.

22. Use promo code “THEFAMILY” for 20€ off
your first booking
@jaredsimon Ÿ The Family Ÿ May 2017