20VC: The Wild Story Raising $450M From Masa and Softbank | Why My Biggest Mistakes Came From Listening to VCs | Why 100 VCs Turned Us Down | Why European Founders Are Tougher Than US Founders with Johannes Reck, GetYourGuide
20VC: The Wild Story Raising $450M From Masa and Softbank | Why My Biggest Mistakes Came From Listening to VCs | Why 100 VCs Turned Us Down | Why European Founders Are Tougher Than US Founders with Johannes Reck, GetYourGuide
20VC: The Wild Story Raising $450M From Masa and Softbank | Why My Biggest Mistakes Came From Listening to VCs | Why 100 VCs Turned Us Down | Why European Founders Are Tougher Than US Founders with Johannes Reck, GetYourGuide
Johannes Reck, the founder and CEO of GetYourGuide, shares the remarkable journey of building a travel experiences platform from just five bookings in two years to a $2 billion company. Along the way, he faced immense challenges — from fundraising hurdles and strategic missteps to global crises like the pandemic. His story highlights resilience, adaptability, and hard-earned lessons from scaling a business in Europe’s evolving startup ecosystem.
Reck recounts early struggles including raising capital in a market with limited venture funding, securing only 5 bookings in the first two years, and nearly exhausting resources before finding product-market fit. A pivotal moment came when they landed key partners like a Vatican tour agency, which sparked growth. He reflects on regretting their Series A decision due to heavy dilution and how hiring mistakes forced a painful 30% layoff. The company rebounded strongly, eventually securing a massive $450 million investment from SoftBank — just before the pandemic hit, wiping out revenue almost overnight. Despite this, Reck avoided layoffs, focused on recovery, and led the company back to profitability. He also shares insights on European tech ecosystems, talent acquisition challenges, and leadership evolution over 15 years as CEO.
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Europe needs more innovation investment to compete with US capital pools
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Tax incentives are proposed to attract global talent to Europe.
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Visa restrictions hinder the growth of the tech ecosystem in Europe.
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Tech leaders should speak out despite blowback to bring progress closer to people
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Johannes' early arrival in Beijing led to the idea for GetYourGuide
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Being fully committed was crucial after two years of setbacks with an unproven prototype
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Johannes Reck asked his parents to remortgage their house for funding due to lack of seed capital
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Brent invested after regretting not buying Booking.com at seed-stage
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Securing a large Series A transformed the company's status from unknown to standout.
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A million-dollar investment came during a critical company reboot phase
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Series B round was secured easily due to strong positioning after refocus
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GetYourGuide raised $25 million in Series B funding led by Highland Europe and Spark
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Received $450 million from SoftBank Vision Fund and Temasek, shaping the company's survival during the pandemic
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Having top-tier VCs on the cap table can signal credibility and ease future fundraising.
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Raised $100 million in 2023 despite existing cash reserves
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Using financial gains to improve health and performance through better lifestyle choices
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Building a successful business takes decades and requires a sustainable lifestyle.
