at 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,

at 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).