Raising Seed Funds
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Transcript of Raising Seed Funds
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Launched back in 2009
“The first 3d virtual world on the web”
Press! Hype! On top of the world!
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Raised 1M in new funding
1 Million users in two weeks
Reached: #1 free RPG on iOS #1 free game on Kindle Fire
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Tips for raising out of HK
(hard learned lessons)
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Make something people want (and get some revenues)
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Increase your runway!
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It’s a full Wme job
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Do you know…
1/ What is a full ratchet clause?
2/ Does a converWble note convert in an acquisiWon?
3/ What is the current trend of note caps
etc
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Study Up
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Prep well for possible quesWons
What do you want out of this company?
What will you do with the funds?
What’s to stop company X doing that?
How are you going to enter China market?
etc
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SERAP is your friend
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Singapore is also your friend
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AlternaWve funding sources
*
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Finding your angels
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Good starWng points in HK
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Groups can be explosive*
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Angel List
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It’s a numbers game
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Tip # – CampaignMonitor is your friend
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Research your investors
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Research yourself
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Four Key Things to afract HK angels
a) TracWon
b) Social proof
c) A carrot
d) Call to acWon
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TracWon
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Social proof
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Carrot
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Call to acWon
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ABO: Always Be Oversubscribed
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What do you need to pitch?
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You will need…
Elevator pitch
Video
Pitch deck
Expanded deck
1 page teaser
3 year P&L projecWon
Cap table
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Elevator pitch is yr beaWng heart
“Plukka sells fine designer jewelry at a fraction of the usual retail price”!
“8securities is the world's smartest online brokerage.”!
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A great video pitches itself
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Cap Table
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QUIZ
1/ What is the likely exit valuaWon for your company?
2/ What is your return user rate amer a month?
3/ What is the age breakdown of your users?
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Hacking pitching skills
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Watch Shark Tank
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PracWce your pitch
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Closing
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Face to Face Wme is invaluable
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Time your round with your momentum
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Be reasonable in negoWaWons
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Where can I get help with this stuff?
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Tip # – When in doubt…
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Tip # – Get advice from friends
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Happy to chat
Let me buy you coffee