How I Built a $300M Startup with No Degree and No NetworkㅣSelfbook, Khalid Meniri

Summary

Khaled Maneri, co-founder and CEO of Selfbook, shares his inspiring journey from Algeria to New York City, overcoming significant challenges as an immigrant with no formal education or network. He founded Selfbook to revolutionize the travel industry by streamlining hotel bookings and introducing innovative payment solutions like Apple Pay. His relentless drive, coupled with a passion for design and user experience, helped Selfbook grow rapidly, increasing conversion rates and reducing cancellations. Despite obstacles, Maneri’s commitment to improving the travel experience and his belief in perseverance continues to drive his success.

Takeaways

• 😀 Khaled Maneri, co-founder and CEO of Selfbook, emphasizes the importance of perseverance and a clear vision for success in entrepreneurship.
• 😀 He highlights the unique challenges of being an immigrant founder, particularly when lacking formal education and a strong network.
• 😀 Despite doubts in decision-making, a relentless drive and stubbornness helped Khaled push through obstacles and build a successful business.
• 😀 Selfbook’s mission is to streamline the hotel booking experience by providing digital payment options like Apple Pay, improving conversion rates.
• 😀 Khaled's journey began with his fascination with design, sparked by the iconic Apple store experience in New York City.
• 😀 His business, originally born from necessity as an immigrant, grew out of an accidental yet deeply passionate desire to design better products.
• 😀 Khaled’s first venture into product development began with an app that curated unique products for mobile, laying the groundwork for his later work in travel.
• 😀 Despite launching a travel app just as the pandemic hit, Khaled pivoted and found a way to provide value by streamlining booking and payment processes for hotels.
• 😀 Selfbook’s value proposition is built around providing hotels with a seamless booking infrastructure, helping them avoid hefty commissions from OTAs (Online Travel Agencies).
• 😀 In 2024, Selfbook saw impressive growth, tripling revenue and significantly increasing hotel conversion rates and reducing cancellations.
• 😀 Khaled believes that integrating systems rather than replacing them is key to success in the hotel industry, emphasizing collaboration with existing platforms like Muse.

Q & A

What inspired Khaled Maneri to start his entrepreneurial journey?

Khaled Maneri was inspired to start his entrepreneurial journey after moving to New York City from Algeria, where he experienced the limitations of being from a geopolitically restricted country. His fascination with product excellence, sparked by his experience with Apple products, pushed him to learn design and eventually launch his own business.

What challenges did Khaled face when he first moved to the United States?

When Khaled first moved to the U.S., he faced challenges such as not having a formal education or network. He had to take on any job to survive and had to build his network from scratch, relying on a small group of people who helped him along the way.

How did Khaled's previous business experience shape his current venture, Selfbook?

Khaled's previous business, Six Agency, was focused on mobile app design and offering curated products. His experience with creating a seamless user experience and working with digital technology laid the groundwork for his current venture, Selfbook, which aims to streamline hotel booking and improve the guest experience.

What major problem in the hotel industry did Selfbook aim to solve?

Selfbook aimed to solve the problem of friction in the hotel booking process. Specifically, it provided a solution that allowed hotels to accept modern payment methods like Apple Pay, which were previously unavailable, and streamlined the booking experience directly on the hotel's website.

Why did Khaled believe that the hotel industry was behind in adopting modern technology?

Khaled believed the hotel industry was behind in adopting modern technology because many of their systems were outdated, dating back to the 1960s. Despite rapid changes in user behavior, the industry was slow to adapt, particularly in terms of guest-facing technology.

What were the key insights that guided Selfbook's pivot during the pandemic?

During the pandemic, Khaled realized that no hotels accepted Apple Pay, which was a major opportunity. Additionally, he discovered that launching a consumer app was incredibly challenging. These insights led to Selfbook's pivot toward providing an integrated booking infrastructure that could support modern payment methods.

How did Selfbook address the challenge of integrating with older hotel systems?

Selfbook addressed the challenge of integrating with older hotel systems by building an integration layer that allowed them to work with legacy systems, such as Saber, rather than trying to replace them entirely. This approach made it easier for hotels to adopt the new technology without completely overhauling their existing infrastructure.

What success did Selfbook achieve in its early stages?

In its early stages, Selfbook achieved significant success by helping hotels increase conversion rates on their websites by 40% and reducing cancellations by 44%. These early wins were driven by their unique value proposition of streamlining the booking experience for both guests and hotels.

How did Khaled's experience with the Apple Store in New York influence his career?

Khaled's visit to the Apple Store in New York had a profound impact on his career. It was the first time he saw the level of excellence in design and product quality that he admired, which motivated him to learn design and eventually become a product founder.

What does Khaled believe is essential for success as a founder?

Khaled believes that perseverance and a strong belief in the product are essential for success as a founder. He emphasizes that while every decision may come with doubt, having a stubborn drive and a clear vision is key to overcoming challenges and staying focused on the goal.