raising seed funds
DESCRIPTION
Presentation given at the Internet Society's Startup talk in 2012.TRANSCRIPT
Launched back in 2009
“The first 3d virtual world on the web”
Press! Hype! On top of the world!
Raised 1M in new funding
1 Million users in two weeks
Reached: #1 free RPG on iOS #1 free game on Kindle Fire
Tips for raising out of HK
(hard learned lessons)
Make something people want (and get some revenues)
Increase your runway!
It’s a full Wme job
Do you know…
1/ What is a full ratchet clause?
2/ Does a converWble note convert in an acquisiWon?
3/ What is the current trend of note caps
etc
Study Up
Prep well for possible quesWons
What do you want out of this company?
What will you do with the funds?
What’s to stop company X doing that?
How are you going to enter China market?
etc
SERAP is your friend
Singapore is also your friend
AlternaWve funding sources
*
Finding your angels
Good starWng points in HK
Groups can be explosive*
Angel List
It’s a numbers game
Tip # – CampaignMonitor is your friend
Research your investors
Research yourself
Four Key Things to afract HK angels
a) TracWon
b) Social proof
c) A carrot
d) Call to acWon
TracWon
Social proof
Carrot
Call to acWon
ABO: Always Be Oversubscribed
What do you need to pitch?
You will need…
Elevator pitch
Video
Pitch deck
Expanded deck
1 page teaser
3 year P&L projecWon
Cap table
Elevator pitch is yr beaWng heart
“Plukka sells fine designer jewelry at a fraction of the usual retail price”!
“8securities is the world's smartest online brokerage.”!
A great video pitches itself
Cap Table
QUIZ
1/ What is the likely exit valuaWon for your company?
2/ What is your return user rate amer a month?
3/ What is the age breakdown of your users?
Hacking pitching skills
Watch Shark Tank
PracWce your pitch
Closing
Face to Face Wme is invaluable
Time your round with your momentum
Be reasonable in negoWaWons
Where can I get help with this stuff?
Tip # – When in doubt…
Tip # – Get advice from friends
Happy to chat
Let me buy you coffee
