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Capital Formation in Private Markets
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Navigating Venture Rounds and M&A

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About Event

Most founders know how to build. Far fewer know how to navigate the financing milestones and exit conversations that determine whether all that building pays off.

Join us for a conversation with Sam Shank, the Co-Founder and CEO of HotelTonight — the last-minute hotel booking app that raised multiple venture rounds before being acquired by Airbnb in a deal valued at nearly $400M. Sam has lived the full arc: early-stage fundraising, scaling through venture rounds, and ultimately negotiating a high-stakes acquisition with one of the world's most recognized brands.

In this session, we focus on the questions that matter most:

  • Raising Venture Capital the Right Way — What Sam learned across multiple rounds about what investors actually want, when to raise, and how to avoid the mistakes that derail otherwise strong companies;

  • The M&A Conversation — How acquisition interest develops, what makes a company an attractive target, and how founders should think about the process before it starts;

  • Lessons From the Other Side — What Sam would do differently with Stand, and what he got right — navigating the transition from independent founder to acquired company.

There'll be time for Q&A at the end. Most useful for founders currently fundraising or approaching a growth inflection, and anyone curious about how the path from venture-backed startup to successful exit actually unfolds.

Speakers:

  • Sam Shank: Sam is a serial entrepreneur and the Co-Founder of HotelTonight, which he built from launch to a ~$400M acquisition by Airbnb. He has since served as a Visiting Partner at a16z Speedrun and is currently co-founder of Stand, an AI-native homeowners insurer. He is also an active angel investor across consumer, marketplace, and software companies.

About Us:

Backed by a16z and Y Combinator, Metal is an AI-native operating system for founders raising venture rounds.

Avatar for Metal
Presented by
Metal
Capital Formation in Private Markets
Hosted By