We’ve found that the are two especially difficult aspects to meeting with potential investors so far: they tend to ignore the female half of our team and they want us to lie to them.
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Our seed round fundraising strategy has changed since we found out how long it takes to launch an equity crowdfunding campaign. In this vlog, Davis will share our next moves and some new investor docs that might be interesting to people who have full access to Viri’s files.
Some links mentioned in the video:
• What we’re giving to potential investors in our seed round
• Good Profit, one of Davis’ favorite business books (on the way to contest winner Ira):
• Lance Cottrell, angel investor we’re meeting in San Francisco
• Han Jin, hardware entrepreneur we’re meeting in Silicon Valley:
• Request full access to Viri’s files
Equity Crowdfunding / Crowdfund investing (newly-allowed under the JOBS Act, a US securities law) has proven to be problematic for our startup. We’ve been using Wefunder to launch a seed round campaign and there are two acute problems:
1) Launching the campaign is a HUGE hassle and its taking too long. From beginning to launch, I’d budget two months then another 180 days to run the campaign. From beginning to money in the bank, we’re looking at 9-10 months which is insane.
2) Many platforms screen applicants and want later-stage companies which is a problem of you’re trying to get a company of the ground.
Links mentioned in the video:
• Access to our seed-round investor SAFE agreement: http://bit.ly/virisafeseed (must have full access)
• Apply for full access to Viri’s files: http://bit.ly/viriaccess
Big changes! Results are in! Growth Hacking is a good approach to building and marketing stuff. In this update, find out what we learned from our experiments.