S
The Funding Game
David Tran | Co-Founder / COO of NhomMua.com
Do you need the money?
S Funding important for scaling, intensive capital needs,
accelerating growth
S Funding much easier...
GoPro
GoPro
S HD sports video cameras
S Low cost HD Wearable Sports Camera
S Sold shells from VW bug to get 10k USD for first pa...
SmugMug
SmugMug
S Multi-gigapixel photography
S Like Flickr but high quality
S Self-funded
PCH
PCH
S Located in Shenzhen, China
S Huge supply chain company
S Needed $200k USD to build circuit boards
S Banks, VCs, turn...
Do you need the money?
S Hustle, hustle, hustle
S Build prototype, demo, proof of concept before asking for
money
S If pos...
Looking for money
S Ideas are a “dime a dozen”
S Investors want to know your team can pull it off
S Management team covers...
DropBox
DropBox
S Total VC capital funding of 257.2 MM USD
S Valuation possibly > 1 Billion USD
S Annual revenue > 240 MM USD for ...
DropBox
S Founder Drew Houston originally use “Customer Development”
methodology by Steve Blank
S Customer Development pro...
Summary
S Ideas are just ideas
S You need to execute and test the market, to know what’s
out there
S At least have working...
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THE FUNDING GAME

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THE FUNDING GAME

  1. 1. S The Funding Game David Tran | Co-Founder / COO of NhomMua.com
  2. 2. Do you need the money? S Funding important for scaling, intensive capital needs, accelerating growth S Funding much easier to get after proving concept (valuation also higher) S Not all startups need outside funding S Advice: Go as long as you can without asking for money
  3. 3. GoPro
  4. 4. GoPro S HD sports video cameras S Low cost HD Wearable Sports Camera S Sold shells from VW bug to get 10k USD for first patent
  5. 5. SmugMug
  6. 6. SmugMug S Multi-gigapixel photography S Like Flickr but high quality S Self-funded
  7. 7. PCH
  8. 8. PCH S Located in Shenzhen, China S Huge supply chain company S Needed $200k USD to build circuit boards S Banks, VCs, turned them down S Founder Liam Casey asked factory to build it for him first S Offered his passport as collateral
  9. 9. Do you need the money? S Hustle, hustle, hustle S Build prototype, demo, proof of concept before asking for money S If possible, find a way to acquire customers, get real world data, then seek money S If cash-flow is business supporting, may not need funding ever
  10. 10. Looking for money S Ideas are a “dime a dozen” S Investors want to know your team can pull it off S Management team covers all needed areas to succeed S Technology / Development, Marketing/Sales/Business S Prove the concept with real customers S Go out there and get customers with your product S “Pivots” are essential | Your original ideas rarely work
  11. 11. DropBox
  12. 12. DropBox S Total VC capital funding of 257.2 MM USD S Valuation possibly > 1 Billion USD S Annual revenue > 240 MM USD for 2011 S Very interesting method of getting initial funding
  13. 13. DropBox S Founder Drew Houston originally use “Customer Development” methodology by Steve Blank S Customer Development process S Talking to customers S Using feedback to develop and refine product S Then, Drew Houston had an animated video created of a product that did not exist S Shopped the video to investors as “alpha version” and got funded S … then built the product.
  14. 14. Summary S Ideas are just ideas S You need to execute and test the market, to know what’s out there S At least have working prototype to show people, get feedback loop (Customer Discovery) S Real data (proof) trumps all  funding at that point is just to scale a working model

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