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Hacking AngelList

How to get the most out of AngelList. A primer on building social capital and fundraising for your startup on the AngelList platform.

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Hacking AngelList

  1. 1. Hacking AngelList Ted Mann, founder SnipSnap for DreamIt Ventures
  2. 2. Brief History of angel.co • Founded in 2010 by serial entrepreneurs Naval Ravikant and Babak Nivi • Began as platform for startups and angels to network, but has grown to also serve as indispensable job board, syndicate management platform, host to funds • Raised $104MM in 2014 • 243 startups funded; 2,673 investors participated • Maiden Lane raises fund to back AngelList syndicate leads
  3. 3. Anatomy of a Great Profile • Big Market
 
 • Teasing for More Information to Followers
 • Lots of Social Proof
  4. 4. Dustin’s Advice ‣ Don’t conflate a profile and a pitch deck. ‣ Assign an editor (teammate or advisor). ‣ Be very careful about what markets 
 you chose to list your company in. ‣ Shamelessly solicit comments on you and your company (go for people who have highest # of followers first). ‣ Post updates and press regularly.
  5. 5. “Fundraising is all about Fear of Being Left Out” —Gil Penchina
  6. 6. Gil’s tips on creating a feeding frenzy • Have all investors, advisors, members coordinate sending out the 140 character blurb to AL, TW, FB at the same time with a link to build more momentum • Find a way to get one of the top 20 “megaphones” to promote you on AL. The list is here: https://angel.co/people • Have something with a hockey-stick curve, but no #’s on the x or y axis for investor-catnip • LARGE NUMBERS OR PERCENTAGES • And something tantalizing that makes people need to learn more and FOLLOW YOU
  7. 7. Spell out your instructions
  8. 8. What’s a Syndicate? • People follow the lead with $$ - as little as $1,000 per deal 
 (crowd funding) • Lead makes an investment decision • Then AL works with to communicate the investment to the syndicate – and also promotes it to the larger community to help fund it • AL creates an LLC and collects checks (ACH and Wires) from the crowd • AL sends a single check to the startup and handles SEC, Audit, Reporting • Investors pay a 20% carry, no mgmt fee
  9. 9. Boss Syndicate • Boston-centric, backed by Atlas Venture
 • Local entrepreneur/angels lead investments, with minimum of $250k per guaranteed by Atlas
 • Other entrepreneurs can follow, along with 241 other backers
 • 21 investments in first 18 months
  10. 10. Do’s Don’ts ‣ Link to your AL Profile in your email sig ‣ Ask everyone you meet at DreamIt to comment on and follow your page ‣ Spend as much time building your personal profile as your company one ‣ Post all your jobs and internships on AL ‣ Leave an open-ended funding round up on AL. If you announce you’re fundraising, begin to show it being filled up quickly ‣ Post a link to a long deck ‣ Post a video longer than 2 min ‣ Forget to follow every single DreamIt company and founder
  11. 11. Thanks Ted Mann ted@snipsnap.it https://angel.co/ted-mann

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