Funding – another mile

Today I got an email from Ben Franklin saying “hey – the most current Exec Summary we have is from November, can you send the most current one? We’d like to put you in front of a new fund that is opening.”  I spend the next hour updating the Exec and sent it right over – move fast or the chance is gone!  I can’t even remember how many times I have done exactly that. Too many to count, that’s for sure. 

Ben Franklin has been very good to us, both as an investor and as an adviser and they continue to put us in front of folks (NY Angels, PIF, LORE). They are now putting us in front of another.

We’ve been around the funding block a few times now.  And I don’t mean big institutional funding, I mean the small, “friends family fools”, angels and small institutional VC block.  It’s not a big block and it’s very hard to find the doors to the buildings.  We have gotten over $200k, but that’s not a lot for starting a business.

Our market environment is very scary for investors – big, growing, lots of deep-pocketed competition and no apparent differentiation (we disagree). Of course, the same could have been said for YouTube.  I am confident that soon there will be an investor who gets it.

Fingers Crossed.

Posted on January 4, 2007 in Uncategorized

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