nomadpass

Exactly, but funding can mean no fees to help onboard new customers for the first few years. As I get closer to Series C in 5-6 years, then yes low fees maybe likely but still less than airbnb.

Airbnb didn't make money first two years. I am open to fees, just not 17% in fees like airbnb, maybe half that or less I am comfortable with...something reasonable you know?

I am not a rocket scientist, just a designer and builder. Even so, they do seem to be doing well, 6,000 employees and 70bn market cap doesn't sound like a bad deal...

It is for investors to be able to log in using user demo, live version would never have this lol.

It was a request from investors, so I complied. But live version will go straight to listings as it should.

Because airbnb charges 17% in fees from every booking, guests are hurting. We wont charge a separate cleaning fee either. All listings are mandatory self check in as well.

That is the plan eventually, but airbnb charges 17% in fees, we hope to charge half that or less if investors ask us to eventually implement fee structure

Eventually the fees we collect will offset the funding.

Thank you! that means alot

Eventually we may charge fees, but still lower than 17% of airbnb, probably half of that or less

Only for the demo, live version will require no log in, its just to show investors how to use demo user login

Maybe the people who invested in airbnb? They didnt make money first two years. Its only been a week since I launched the demo so give me a chance lol

We aren't ruling out the possibility of low fees if investors ask for it. And yes its just dummy data for now. It is a demo lol.

We will charge fees in the future perhaps but it would still be less than airbnb.

Am hoping some investor who may be lurking here might want to participate in our seed round. We have gotten some offers last week of 1.5-2m for 15% but terms not founder friendly.

We can email/fax proof if necessary to prove it.

Hoping the HN community can come to the rescue :)

Yeah, but that means going full production live which means I wouldn’t need investors if I went that route

Just like Uber temporarily suspends drivers who below 4.5, we will also.

My goal is to have high quality hosts and stays. It motivates them to keep up quality if there is a points system

The X in this case was to deliver an MVP.

I think we accomplished that. I don't think we can go further without funding because we need developers and help and funding to pay for our hosting needs.

I didn't decide on the valuation, it was pre established. I thought the norm was 7% for 500K, and I assumed that was kind of the standard in the pre-seed world, so it makes sense for seed rounds to be on average 2 million for 10-20% of equity dilution.

Hi Roger, do you know any investors who you had a good experience with?

The 2.5m were not founder friendly, it would have diluted me to over 20%.

I am looking for something along the lines of 1.5m-2m for 15-20% of the company.

Yeah, its just an MVP and San Francisco was kept as these are made up listings to show how the product works, also because alot of investors live in SF/Bay Area, so it seemed like a good idea

Hi, I am building out an app called Nomad that will offer hosts and guests zero fees, mandatory self check in on all listings and no cleaning fees.

Was hoping for some feedback from the HN community and hopefully any investors interested in funding our seed round :)