3 ms·

CEO of 5 year-old company who raised $4mil enters pitch contests to win $15k

18 points by bruceb 12y ago

Mastercard had pitch competition called Priceless Pitch at this weekend at the Mashable House in Austin / SXSW From the site: How’s it work? Have your pitch for a new business idea, solution or product prepared and our bellhop will escort you into the Priceless Elevator. Once the door closes, you’ll have up to 60 seconds to pitch your idea for a chance at the grand prize of $15,000. http://mashable.com/2015/03/11/priceless-pitch-brandspeak/ Now the spirit of the competition would seem to indicate that this was for new ideas or for younger startups who have not raised a ton of money. So it is a little curious that they awarded it to Clearpath's CEO Felice Gorordo. https://twitter.com/MasterCard/status/577239944357289984 Clearpath is 5 years old and has raised 4 million and is looking to raise 3 million more. http://miamiherald.typepad.com/the-starting-gate/2014/01/clearpath-names-felice-gorordo-ceo-moving-hq-to-miami.html Seems bad form to me but wanted to get HN comments

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- bruceb 12y ago
  How old do you think a company would be to not be able to enter?
  - jonathankoren 12y ago
    You probably shouldn't have raised $4 million. It's a bit like SF Giants entering a tee ball tournament isn't it?
Iaks 12y ago
No.
- oxide 12y ago
  no what? no you don't agree, no you don't care? no its not in bad taste? give me something more than no.
  - jonathankoren 12y ago
    No. ;)
TamDenholm 12y ago
I think its less about the $15k and more about being able to say they got an award from Mastercard, publicity, networking with other businesses, which is always helpful. Also, the CEO might just find these things fun.
moubarak 12y ago
that means the business is still relevant. smart publicity by the CEO i say.
- CompassMD 12y ago
  Since the official rules apparently didn't preclude them from entering, I have to agree that it was smart.
amirmc 12y ago
This tells me it was a poorly organised competition to begin with. The blurb clearly indicates it's for new companies/ideas (for some definition of new). However, the eligibility criteria only states that you are a US (Mastercard?) cardholder (i.e. no restrictions). I'm not much impressed with the judges either. How the fuck is a pitch for a new idea meant to compete with one that's already a going concern? "sign up to pitch your new business idea" and "... on the final day (3/15), the best Priceless Pitch will be awarded a $15,000 grand prize to help bring the idea to life." [1] -- emphasis added. [1] http://mashable.com/2015/03/14/priceless-pitch-mashable-house/ http://mashable.com/2015/03/14/priceless-pitch-mashable-hous...
drum 12y ago
It's stated in the prompt that the pitch could be for a "new business idea, solution or product". That seems clearly inclusive of existing businesses regardless of age. i.e. A 5 year old business releasing a new product. Sounds like fair game to me.

18 points by bruceb 12y ago

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bruceb 12y ago
How old do you think a company would be to not be able to enter?
- jonathankoren 12y ago
  You probably shouldn't have raised $4 million. It's a bit like SF Giants entering a tee ball tournament isn't it?

Iaks 12y ago

No.

oxide 12y ago
no what? no you don't agree, no you don't care? no its not in bad taste? give me something more than no.
- jonathankoren 12y ago
  No. ;)

TamDenholm 12y ago

I think its less about the $15k and more about being able to say they got an award from Mastercard, publicity, networking with other businesses, which is always helpful. Also, the CEO might just find these things fun.

moubarak 12y ago

that means the business is still relevant. smart publicity by the CEO i say.

CompassMD 12y ago
Since the official rules apparently didn't preclude them from entering, I have to agree that it was smart.

amirmc 12y ago

This tells me it was a poorly organised competition to begin with. The blurb clearly indicates it's for new companies/ideas (for some definition of new). However, the eligibility criteria only states that you are a US (Mastercard?) cardholder (i.e. no restrictions). I'm not much impressed with the judges either. How the fuck is a pitch for a new idea meant to compete with one that's already a going concern? "sign up to pitch your new business idea" and "... on the final day (3/15), the best Priceless Pitch will be awarded a $15,000 grand prize to help bring the idea to life." [1] -- emphasis added. [1] http://mashable.com/2015/03/14/priceless-pitch-mashable-house/ http://mashable.com/2015/03/14/priceless-pitch-mashable-hous...

drum 12y ago

It's stated in the prompt that the pitch could be for a "new business idea, solution or product". That seems clearly inclusive of existing businesses regardless of age. i.e. A 5 year old business releasing a new product. Sounds like fair game to me.