6 ms·

Apps That Matter, Angel Investing, and B2B Sales with Matt Wensing of Stormpulse

51 points by sethev 14y ago

patio11 14y ago
I'm happy to answer questions, as always. This is a bit more inside-baseball Silicon Valley-esque than my blog/podcast usually is, in that a large portion of it covers angel investing. If you're looking to raise money, particularly without the advantage of physically being in the Valley, I think it is probably worth your time. Plus if "We just got a feature request on behalf of Obama" isn't the coolest SaaS story you'll hear this year I will eat my hat.
- deleted 14y ago
  [deleted]
- eah13 14y ago
  Thanks a ton for this content. It's super helpful. The rapport that you have with Matt is definitely something we want with our Angels. If we could have only individual entrepreneur-angels who were investing because they believe in our vision, team and product that would be ideal for where we are right now. The stuff you guys went over at the end regarding Angels vs VCs and VC fund sizes vs target exit sizes was very concise. It took me a lot of reading to learn all that stuff over the past year or so, and there it is all in one go :) Thanks again.
wensing 14y ago
And if anyone has any questions about anything I (Matt @ Stormpulse) said, I'm happy to comment here as well. Thanks for listening everyone!
- eah13 14y ago
  Matt, Thanks so much for putting this great podcast out with Patrick. I was just talking with my cofounders today and saying that, just like code, it's super helpful to have examples when trying to understand and make choices for your startup. I'm an entrepreneur in Durham, NC. I've got a great team working hard on product and a growing list of gotta-have-it would-be users. We'll be raising seed capital soon and my question is about choosing your angels. I've met with a lot of investors who just don't get our business and I can confidently say we don't want their money. There are a few local angels who are really smart, though, love our idea and get that it is big. They've been advising us to stay away from "small fry" angels that they've seen kill other companies by trying to optimize fo the short term, safe vision. That said, I think there are enough smart ones for our round and definitely enough when we count silent ones. So, questions: - Tips on how to vet/chose angels? How did your sense of angels reflect their actual behavior? - I'd really love to hear your advice on whether to try to pitch Valley (or elsewhere) angels even if we feel we can get the round done locally. I know it's so tied to who the investors are but it seems a time/money tradeoff with the possibility of getting talented smart investors from the Bay. - Advice on terms, both on the gotta have em and definitely don't do this side? Seems like everyone has a story here and there seems to be a resurgence of advice to do a priced seed round over convertible notes.
  - wensing 14y ago
    One litmus test that hasn't failed wrt angels is: how complicated are they trying to make this? Angel investing is not a time in your company's history for anything more than dead simple, fair terms, and quick turnaround. Avoid cute and fancy. Yes, make connections and pitch to people all over. You'll find different perspectives in SF, NYC, and NC, etc. In my experience angels in SF have the largest appetite for higher valuations but also a larger appetite for larger outcomes which means larger plays/markets. YMMV. Terms: keep it simple. There are a few people that I've heard say 'priced' but the more popular choice in my circles is convertible.
    - eah13 14y ago
      Simple terms and pitch all over. Got it. Thanks!
j_s 14y ago
My question is more meta: why 4 podcasts in 2 years? Basically, I want to know where producing a podcast ranks among the various ways to build a professional brand on the interwebs.
- patio11 14y ago
  My question is more meta: why 4 podcasts in 2 years? I follow a few podcasts myself which do it week-in-and-week-out, and I'm jealous, but not jealous enough to make the podcast a higher priority than e.g. date night. Keith and I have been pretty busy since the podcast started. I got married, he and his wife had two children, etc. Our schedule is generally sort of at the mercy of "We both need availability" plus "We both need to have something fresh to talk about", and recently I find myself with very little to talk about that is both novel and appropriate for public consumption. Basically, I want to know where producing a podcast ranks among the various ways to build a professional brand on the interwebs. I know people who are pretty effective at having done it, but it isn't the primary reason people know who I am. (Blog, Internet commenting at places like HN, conference speeches, in my case.) I mostly do it because I enjoy doing it, and it gives me a built-in excuse to chat with smart people about interesting subjects while also teaching other folks, both of which are interesting to me.
  - kokofoo 14y ago
    Congrats on your marriage. I really enjoy your blog posts and podcasts and comments here on HN. They taught me a lot. Thank you.
ry0ohki 14y ago
Thanks Patrick! I hate to be "that guy", but the poor sound quality on your side is really distracting on this one (I see you addressed that, just curious if you considered rerecording your side)
sskates 14y ago
I love the seed round in 65 characters: "NNNNNNNNNNNNNNNNNNNNNNNNNNNNYNNNNNNNNNNNNNNNNYNNNNYNNYYYYYYYYYYY" Really explains raising money to somebody who has never done it before.

51 points by sethev 14y ago

I'm happy to answer questions, as always. This is a bit more inside-baseball Silicon Valley-esque than my blog/podcast usually is, in that a large portion of it covers angel investing. If you're looking to raise money, particularly without the advantage of physically being in the Valley, I think it is probably worth your time. Plus if "We just got a feature request on behalf of Obama" isn't the coolest SaaS story you'll hear this year I will eat my hat.

deleted 14y ago
[deleted]
eah13 14y ago
Thanks a ton for this content. It's super helpful. The rapport that you have with Matt is definitely something we want with our Angels. If we could have only individual entrepreneur-angels who were investing because they believe in our vision, team and product that would be ideal for where we are right now. The stuff you guys went over at the end regarding Angels vs VCs and VC fund sizes vs target exit sizes was very concise. It took me a lot of reading to learn all that stuff over the past year or so, and there it is all in one go :) Thanks again.

wensing 14y ago

And if anyone has any questions about anything I (Matt @ Stormpulse) said, I'm happy to comment here as well. Thanks for listening everyone!

eah13 14y ago
Matt, Thanks so much for putting this great podcast out with Patrick. I was just talking with my cofounders today and saying that, just like code, it's super helpful to have examples when trying to understand and make choices for your startup. I'm an entrepreneur in Durham, NC. I've got a great team working hard on product and a growing list of gotta-have-it would-be users. We'll be raising seed capital soon and my question is about choosing your angels. I've met with a lot of investors who just don't get our business and I can confidently say we don't want their money. There are a few local angels who are really smart, though, love our idea and get that it is big. They've been advising us to stay away from "small fry" angels that they've seen kill other companies by trying to optimize fo the short term, safe vision. That said, I think there are enough smart ones for our round and definitely enough when we count silent ones. So, questions: - Tips on how to vet/chose angels? How did your sense of angels reflect their actual behavior? - I'd really love to hear your advice on whether to try to pitch Valley (or elsewhere) angels even if we feel we can get the round done locally. I know it's so tied to who the investors are but it seems a time/money tradeoff with the possibility of getting talented smart investors from the Bay. - Advice on terms, both on the gotta have em and definitely don't do this side? Seems like everyone has a story here and there seems to be a resurgence of advice to do a priced seed round over convertible notes.
- wensing 14y ago
  One litmus test that hasn't failed wrt angels is: how complicated are they trying to make this? Angel investing is not a time in your company's history for anything more than dead simple, fair terms, and quick turnaround. Avoid cute and fancy. Yes, make connections and pitch to people all over. You'll find different perspectives in SF, NYC, and NC, etc. In my experience angels in SF have the largest appetite for higher valuations but also a larger appetite for larger outcomes which means larger plays/markets. YMMV. Terms: keep it simple. There are a few people that I've heard say 'priced' but the more popular choice in my circles is convertible.
  - eah13 14y ago
    Simple terms and pitch all over. Got it. Thanks!

j_s 14y ago

My question is more meta: why 4 podcasts in 2 years? Basically, I want to know where producing a podcast ranks among the various ways to build a professional brand on the interwebs.

patio11 14y ago
My question is more meta: why 4 podcasts in 2 years? I follow a few podcasts myself which do it week-in-and-week-out, and I'm jealous, but not jealous enough to make the podcast a higher priority than e.g. date night. Keith and I have been pretty busy since the podcast started. I got married, he and his wife had two children, etc. Our schedule is generally sort of at the mercy of "We both need availability" plus "We both need to have something fresh to talk about", and recently I find myself with very little to talk about that is both novel and appropriate for public consumption. Basically, I want to know where producing a podcast ranks among the various ways to build a professional brand on the interwebs. I know people who are pretty effective at having done it, but it isn't the primary reason people know who I am. (Blog, Internet commenting at places like HN, conference speeches, in my case.) I mostly do it because I enjoy doing it, and it gives me a built-in excuse to chat with smart people about interesting subjects while also teaching other folks, both of which are interesting to me.
- kokofoo 14y ago
  Congrats on your marriage. I really enjoy your blog posts and podcasts and comments here on HN. They taught me a lot. Thank you.

ry0ohki 14y ago

Thanks Patrick! I hate to be "that guy", but the poor sound quality on your side is really distracting on this one (I see you addressed that, just curious if you considered rerecording your side)

sskates 14y ago

I love the seed round in 65 characters: "NNNNNNNNNNNNNNNNNNNNNNNNNNNNYNNNNNNNNNNNNNNNNYNNNNYNNYYYYYYYYYYY" Really explains raising money to somebody who has never done it before.