I believe this is the best post I’ve seen on startup funding since the creation of Venture Hacks:
Raising money for a startup is an inherently risky proposition. You step up to the plate knowing that the odds are slim and that, for every story of success on TechCrunch, there’s two hundred companies pounding the street, getting nowhere. We went the opposite route – letting investors come to us.
This is the story of that experience – being “pitched” by investors, the decision-making and negotiation processes and the end results.
Rand writes in detail the complete story of a major funding round for his startup, where other CEO’s are “too busy” or don’t have the balls to share publicly.
He talks about what happens when you “practice” things that leading-lights of the VC and Entrepreneur world have long been “preaching”.
He lays out a strategy popular with armchair entrepreneurs, and relates his experience of how it can go wrong.
This should be required reading for any serious Tech Entrepreneur / Startup team…