space mOnkey and first 24hrs on AngelList

i’ve been messing around w/ a space mOnkey profile on angel list for a few months. of course the common debate is how much value is it really going to bring? my network is coming up w/ great introductions, do i really need more? but secretly the real concern, will anyone freaking care about my startup? this was probably bigger than all the rest. would it look bad if nobody followed us and we had no intros? yes it would, but that shouldn’t stop you.

in our first 24 hours (just guesstimates) we had around 50 followers and half a dozen intros. over the weekend we doubled the number of followers and tripled the intros.  we’ve had emails from investors that have skipped the angel list intro and found our emails through their own contacts. we’ve got wall to wall meetings and each investor we talk to opens more doors through their network. it’s mind boggling. it’s crack cocaine for startups!

tips that worked for us:

  1. don’t be in a rush to publish a profile. take some time to work out the details.  our site went down just before we published our profile. that sucked!
  2. have a ton of people look over the details and proof read. try to make it entertaining, but clear and concise.
  3. have a great advisor w/ great connections. this will help to get the ball rolling. our advisor, jason calacanis, has been tremendous in this regards.
  4. send all your current investor contacts to your profile, ask them to follow or comment on your profile. ask them for introductions to other investors.
fund raising sucks! it takes you away from what founders should do best: designing and building products. i wish there was a magic trick that would cut the process and complexity of raising money to a snap of a finger. the reality is this is a necessary evil for most founders and a great experience to grow personally as well as a company. angel list is a great resource to opening doors to potential investors, but it’s up to you and your product to close the deals.
i’ve been a huge fan of venture hacks and nivi & naval are total rockstars. they should be your first stop in your startup research. they’re vision for angel list is huge and they’ve only begun to scratch the surface of bringing the angel community together. i hope some day i can return the favor.
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