We’re in Business 2.0 magazine this month
Michael Copeland at Business 2.0 wrote a great story this month about “How to find your angel”. It’s the March issue so if you are a subscriber it probably comes to your house this week. It should hit newstands soon. The article talks about our venture over at Curious Office and our interest in Peter Cooper’s fabulous FeedDigest product. Michael discusses everything from how to best attract early stage funding to how VC’s can work with or against angels to take companies to the next level. One thing the article didn’t talk about is what angels should expect from certain types of deals and how they may need to have a different behavior than an investor (like a VC) who may play a higher stakes game. One thing I learned early on was that you cannot expect to invest a small amount of money and then further expect your company to have all the infrastructure for reporting that a VC backed company might. Updates may come in the form of brief emails or quick phone calls vs. nice quarterly powerpoint presentations in a boardroom. Decisions are made fast and informally. Developers aren’t accountants or lawyers and sometimes things like balance sheets, income statements, non-disclosure agreements and other contracts lack the same sheen or structure that a larger company might provide you for your investment. This doesn’t mean things are broken. It just means you’re early and resources are limited. If the company is truly viable, it will grow and you’ll have to sit through PowerPoint briefings soon enough.
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This is awesome. Congrats.