Intro to Angel.coAngelList Tips for Tandem Companies

Intro to AngelList

1. Start private; build a great profile first.

2. Add your team and choose a good referrer.3. Get introductions; build “social proof”.

4. List publicly once your round is 40-60% subscribed.

5. Monitor & respond fast; keep your profile updated.

Build a Great Profile

Your one sentence pitch.

Link your social media & website.

Product demo videos work well.

Keep your profile up to date.

• Think of this as your Executive Summary.

• Include numbers.

• Provide examples and evidence.

• Focus on traction: how many customers do you have and are active? What is your viral coefficient?

• Don’t focus too much on the press.

• Think of this as your Executive Summary.

• Include numbers.

• Provide examples and evidence.

• Focus on traction: how many customers do you have and are active? What is your viral coefficient?

• Don’t focus too much on the press.

Try to keep this in paragraph form, one paragraph, maximum 8 lines.

- Sentence 1: Catchy high level description.- Sentences 2, 3: Describe what makes you special, better than the competition, and indispensable to your customers. Can be features, design, strategy, whatever.- Sentence 4: Hint at where you’re going; the ultimate potential of your product.- Include a link to the site (if your site has a login, don’t make investors sign up to see the product - send them a username and password). http://fundable.co/2011/01/angellist-style-guide/

• Think of this as your Executive Summary.

• Include numbers.

• Provide examples and evidence.

• Focus on traction: how many customers do you have and are active? What is your viral coefficient?

• Don’t focus too much on the press.

Petspets.com is Facebook for Fido: a website that lets any animal create an online home in just a few minutes. Pets can set up profiles, connect with other pets through public notes or private messages, and share hints and tips in community forums. In the future, pets will be able to automatically order food, treats and toys through RFID-enabled collars linked to a network of partner stores. Check it out at http://petspets.com (username: kittydog, password: ineedtopee).

Example

• Don’t forget to add your whole team, with full profiles.

• Be careful about adding investors as advisors (“why aren’t they investing?”).

• You only get one referrer, so choose wisely.

Company Profile Tips

• Why your referrer matters:• They are endorsing you. In the

endorsing section they’ll get a “referrer” badge.

• They’ll be the first person who shows up in your followers list.

• They will show up as your referrer whenever they share things.

Company Profile Tips

• Why your referrer matters:• They are endorsing you. In the

endorsing section they’ll get a “referrer” badge.

• They’ll be the first person who shows up in your followers list.

• They will show up as your referrer whenever they share things.

Company Profile Tips

• Share.

• Take advantage of your network: they can share your profile with their networks.

Company Profile Tips

• You can share your own profile with your followers too.

• Or share anywhere else using the secure link.

• Just turn the secure link off when you’re done raising your round.

Company Profile Tips

• More investors is generally better, but make sure they’re significant.

• Investors “requesting an intro” shows traction.• Investors and advisors leaving positive comments

is more powerful than other entrepreneurs.• Announce progress and raising money.

l0 is a good target.

3 is a good target.

Keep your profile active.

Company Profile Tips

• Be fast to respond.

• Create some template responses so you’re ready.• Find investors by market/geography.

• Ask for intros, or meet through a 3rd party.• Add offline investors/advisors to AngelList too.

But don’t let them sound pre-written!

(Make sure people on AngelList can see all the progress you’re making outside of AngelList as well!)

Company Profile Tips

• You can get introduced to investors that are in your advisors/endorsers’ networks via “nudging.”

Company Profile Tips

• You can get introduced to investors that are in your advisors/endorsers’ networks via “nudging.”

Company Profile Tips

• You can get introduced to investors that are in your advisors/endorsers’ networks via “nudging.”

The Bottom Line

The fundamentals still matter.• Investors still look for the same criteria as always:

• Strong team• Meaningful milestones• Differentiated product• Showing traction• etc.

AngelList is a fast and efficient way to reach a network of investors, but the same rules apply.

• Investors invest in momentum.• Show traction in your updates and profile content.• List on AngelList when you’re partially subscribed.

• Then get out and start researching your network, and targeting investors!

The Bottom Line

Read http://j.mp/TractionArticle for more on how to show traction.

Give yourself a head start, but don’t wait too long.

Your Personal Profile

Make sure your profile is complete and has a picture.

Be unique, but don’t forget to talk about your strengths & what you’ve done.

Be concise.

Edit! Then edit again!

Promote your work and keep your page active with updates.

Add all the companies you’ve founded or worked at (but keep it relevant).

List skills, markets, and locations so you can be found.

Try not to make up your own or choose ones with little traction.

AngelList Takeaways

• List publicly when you’re partially subscribed.• Show momentum and traction; include numbers.• Use your network for intros, comments & shares.

• Hustle and follow up quickly.Just like anything any other fundraising effort!

Questions?

Thanks!

Slides prepared by Michael Silverwood for Tandem Entrepreneurs on January 17, 2012

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Sources

• http://www.seedstagecapital.com/2011/07/hacking-angel-list.html

• http://mashable.com/2011/11/01/angellist-funding/

• http://onstartups.com/tabid/3339/bid/63010/Raising-Money-On-AngelList-21-Tips-From-Two-Active-Angels.aspx

• http://www.quora.com/Brendan-Baker/Posts/Startups-How-to-Hustle-with-AngelList-in-10-Steps

• http://fundable.co/2011/01/angellist-style-guide/

• angel.co & blog.angel.co