I am sure you all know TripAdvisor. It is a great site to plan and book a perfect trip. It has been the trendsetter of the online travel reviews revolution.
They way it got started is pretty interesting.
Steve Kaufer started TripAdvisor when he got frustrated, when he was not able to find reviews for hotels on the internet. He started it and hit many hard roadblocks. But Steve kept pushing and finally sold TripAdvisor for $200+ million.
What you could learn from this episode:
- How he got the idea after being frustrated with his own problem.
- His initial idea for TripAdvisor which was way different that his final idea.
- His solution to get relevant information into his system, which everyone scoffed at.
- Why their first attempt to make money failed.
- How they got the idea to make money came from an unexpected source.
- How they decided to protect themselves from competitors and also help their customers.
- What they did when Hotel operators threatened them.
