Last week at Startups Uncensored Docstoc welcomed Babak Nivi, the Co-Founder of AngelList and VentureHacks. AngelList has emerged as the premiere site for pairing companies with angel investors, and VentureHacks is an amazing blog and resource for any entrepreneur hoping not to get screwed over during the investment process (which, let’s be honest, some doe-eyed entrepreneurs really do).
Nivi, as he prefers to be called, explained that his goal is to level the playing field between investors and entrepreneurs, and help them to connect with one another. Jason Nazar sat Nivi down for a short and sweet fireside chat, and got him to reveal more about the secrets to investment success.
Here are a few of the key quotes and take-aways from Nivi’s chat:
- Nivi: “The two smartest things I’ve ever done in terms of entrepreneurship were dropping out of my PhD program and moving to San Francisco.”
- Jason: “How did you become involved with VCs?”
- Nivi: “I didn’t like the way VC firms worked. They funded these technologically advanced companies but didn’t use technology themselves. They didn’t bother to advance their processes or be more efficient. I wanted to change that.”
- Nivi (on Angellist): “We’re kind of like Tinder for entrepreneurs and angel investors.”
Any tips for people seeking funding?
- “Think of yourself as going to market. Ask for introductions. Get on Angellist, and use the profile on there as a business plan.”
- “The big trick with getting funding is minimizing your option pool, so it doesn’t squeeze your options down.”
- Nivi: “I think the market for startups is pretty much the entire global economy. Over the next 25 to 50 years businesses will be taken over by more efficient startups. Startups are one of the greatest forces for good in the world.”
Experienced and hopeful, love that optimism Nivi!
*Note: Some of the quotes have been modified or paraphrased for clarity
Article by Rochelle Bailis