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.
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.