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I don't see those valuations nor investor traction in Seattle, Boston, or LA. Not sure I ever have for Seattle and LA. Part of the reason there is that they ar
by neworbit 16y ago
I don't see those valuations nor investor traction in Seattle, Boston, or LA. Not sure I ever have for Seattle and LA.
Part of the reason there is that they aren't in the Valley echo chamber. Farther you get from home, the less press you get, therefore the fewer people thinking "what a great company".
- jasonmcalacanis 16y agoat the Boston, Seattle and Los Angeles Open Angel Forums we have seen companies that are slightly less (10-35%) further along than the Valley and New York City, but that have valuations that are much less (50%). Folks in those cities are raising $250-500k at $1.5-2m valuations, where in NYC and the Bay Area/Valley we see $4-6M valuations. You are correct that those companies get less press.... however, they just have to be creative and successful and they will get it (RedFin and Groupon and Gowalla come to mind).
- neworbit 16y agoSo... if valuation is a big driver/deterrent of angel deals, why don't you spend the majority of your time chasing deals in those cities or other similar areas with entrepreneur/tech talent but less angel competition? Maybe you are - it doesn't come across that way.