Speed dating fundraising ideas
The charitable interpretation, which was true in our case, is that the company’s team doesn’t know which one model will work.
Your first slide should articulate the investment thesis in generally 3 to 8 bullet points.Friendster and My Space had millions of users, a ton of engagement, and all the press attention they wanted.Press and analysts characterized Linked In in one of two ways: “Linked In is an interesting niche that might be worth paying attention to” or “Linked In is the Friendster for business”.What I’ve honorably been able to do, however, is share the deck I used to pitch Linked In to Greylock for a Series B investment back in 2004.This past May was the 10th anniversary of Linked In, and while reflecting on my entrepreneurial journey, I realized that no one gets to see the presentation decks for successful companies.To show potential revenue streams, we listed three products: ads, listings, and subscriptions.
The blue boxes identify the corresponding markets for those products.
This gave me an idea: I could help many more entrepreneurs by making the deck available not just to the Greylock network of entrepreneurs, but to everyone. It has many stylistic errors — and a few substantive ones, too — that I would now change having learned more, but I realized that it still provides useful insights for entrepreneurs and startup participants outside of the Greylock network, particularly across three areas of interest: In 2004, the consumer internet was just beginning to rebound.
Friendster was at its height, strongly battling My Space after raising its premium round from Benchmark and Kleiner in the fall of 2003.
Although the blue boxes are equally sized, we knew that the largest portion of our revenue would come from the recruiting space (the 2nd blue box labeled “Jobs”).
What we didn’t know was which product — specifically, listings or subscriptions — would have the higher dollar volume.
The goal of an entrepreneur is to be one of those deals. You may happen to emphasize the right points that pique an investor’s interest, but you shouldn’t leave your financing up to chance. In 2004, investors regained interest in the consumer internet again.