5 European success stories investors initially passed on
Venture capital is supposed to be about spotting the future – catch is the future has a habit of looking rather questionable when it first walks into a pitch meeting. Among the most famous international examples being Airbnb, whose founders were rejected by multiple investors before building a global hospitality giant; Google, which was reportedly […] The post 5 European success stories investors…
Five European technology success stories once faced skepticism from investors before achieving global prominence. BlaBlaCar, a French carpooling service, was rejected by multiple investors who deemed carpooling too niche and difficult to monetize. Skype, a Swedish internet voice call platform, also encountered rejection, with investors wary of disrupting the global telephone network.
Despite these setbacks, BlaBlaCar grew into a unicorn with 40 million active members across 41 countries, while Skype was eventually acquired by Microsoft for $8.5 billion. Starling Bank, a UK mobile-first bank founded by Anne Boden, faced skepticism over the practicality of starting a new bank and her ability to lead. Despite numerous failed pitches, Starling secured its banking licence in 2016 and now boasts 6.2 million platform accounts and €252 million in pre-tax profit.
Lastly, Spotify, a Swedish music streaming service led by Daniel Ek and Martin Lorentzon, was initially dismissed by investors concerned with licensing complicated music industry regulations. Despite the rejection, Spotify flourished and became a global titan in music streaming.
Written by urgent.news from EU-Startups's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
