373760
Steph from OpenVC
@stephnass #373760
Co-founder at http://OpenVC.app. Building the front door into venture capital. I tweet incredible tools and terrible insights for VCs and founders. 🫡
48 Follower 74 Following
Just posted a little tutorial on how to build the perfect investor list (including links to 50+ databases).
Completely free, no signup required: https://openvc.app/blog/investor-list
Completely free, no signup required: https://openvc.app/blog/investor-list
Wanna raise a seed round from VCs?
For most ppl, it's not as straightforward as you'd expect.
For most ppl, it's not as straightforward as you'd expect.
New behavior I'm seeing: web3 startups "hiding" that they are web3.
Here are two web3 startups on OpenVC. No mention of NFT, crypto, blockchain... Very unusual.
Better chance to get your deck opened? 🤔
Here are two web3 startups on OpenVC. No mention of NFT, crypto, blockchain... Very unusual.
Better chance to get your deck opened? 🤔
You don't need need VC money to build:
- A simple e-commerce website
- A simple dating app
- A simple marketplace
- A simple SaaS
If you leverage cloud + low-code + AI, you can realistically bootstrap your MVP to $20k-$100k MRR/mGMV.
No investors needed.
From there, you can raise to scale OR bootstrap some more.
- A simple e-commerce website
- A simple dating app
- A simple marketplace
- A simple SaaS
If you leverage cloud + low-code + AI, you can realistically bootstrap your MVP to $20k-$100k MRR/mGMV.
No investors needed.
From there, you can raise to scale OR bootstrap some more.
Who says you need VC?
Chess․com
Revenue: $100M+
VC: $0
Mailchimp
Revenue: $700M+
VC: $0
Zoho
Revenue: $1B+
VC: $0
Midjourney
Revenue: $200M+
VC: $0
Butcherbox
Revenue: $600M
VC: $0
Dyson
Revenue: $8B+
VC: $0
Who else?
Chess․com
Revenue: $100M+
VC: $0
Mailchimp
Revenue: $700M+
VC: $0
Zoho
Revenue: $1B+
VC: $0
Midjourney
Revenue: $200M+
VC: $0
Butcherbox
Revenue: $600M
VC: $0
Dyson
Revenue: $8B+
VC: $0
Who else?
"$500k committed"? Really?
If you're raising on SAFE/notes, only money in da bank counts. 💰
If you're raising a priced round, a term sheet is a commit. But committed DOES NOT MEAN secured. Many VCs have called off an investment after giving a term sheet... 💀
And Verbal Commits? They are 💩.
If you're raising on SAFE/notes, only money in da bank counts. 💰
If you're raising a priced round, a term sheet is a commit. But committed DOES NOT MEAN secured. Many VCs have called off an investment after giving a term sheet... 💀
And Verbal Commits? They are 💩.
Showing the relationship between (a) round size, (b) dilution, and (c) valuation.
Still WIP. Wdyt?
Still WIP. Wdyt?
Trying to explain how VC works to first-time founders.
(WIP, oversimplified on purpose)
Is it clear? helpful? correct?
(WIP, oversimplified on purpose)
Is it clear? helpful? correct?
I frequently (1/week) get anxious emails from founders asking:
"Who invests in founders with no product and no track record?"
My honest answer is:
1️⃣ Yourself
2️⃣ Family & Friends
3️⃣ Incubators & Accelerators
4️⃣ Grants & Prizes
"Who invests in founders with no product and no track record?"
My honest answer is:
1️⃣ Yourself
2️⃣ Family & Friends
3️⃣ Incubators & Accelerators
4️⃣ Grants & Prizes