1,018 karma · joined February 24, 2011
https://wefunder.com/
http://tommarello.com/
50% of Wefunder's team of 22 are women. So we're passionate about helping more female founders, particularly inspiring very early-stage ones that this path is possible.
We're open to any ideas on how we can make this better!
We've already had a company that raised $1 million from Title III that then raised $5 million from professional investors.
The Fix Congress Act being debated in Congress may solve this problem.
Generally, it's a pretty good investment signal when you personally love using a product. So lots of customers invest for most high-quality companies.
This makes sense. One good signal of whether you should invest is whether you love the product.
We recently closed $1m each for three different companies. Here are our stats: https://wefunder.com/stats
With a few minor Congressional fixes to current laws (including one being voted on soon), we expect this to be workable in 2017.
I certainly used Paypal and Amazon though.
Being a user of the product is a useful tool for separating hype from reality.
https://medium.com/nick-tommarello/my-strategy-for-investing...
"Why would people come back?" is usually correlated with recruiting awesome co-founders, talented employees, great mentors, influencers to talk it up, and top tier investors. Then, the company has the time and resources to discover the best answer to that question.
Maybe once in a decade there's something like Facebook, which just explodes out of the gate instantly (and just buys the better .com later). But I wouldn't want to bet my company on that... especially when I can just spend an hour and brainstorm a .com to address the problem. Anything less is a failure of creativity.
For instance, the author's own web site is standupti.me. It's actually something I might consider trying out. But it comes across as someone's side project by a solo developer, not a company. As a potential customer, I might still get around to trying it out at some point in time, but I do have a slight negative connotation in that it might just disappear tomorrow. It would be 1000x worse for a larger enterprise customer.
(Yes, there are always exceptions - like angel.co - and hacks like getdropbox.com also work).
But perhaps the tradeoff of retaining your "perfect" .io domain is not worth the extra friction of convincing influencers that you are credible company, when an hour creative brainstorming session for a .com might solve the problem?
Sure, if you have a hockey stick growth chart growing revenue 100% month over month, it doesn't matter, but it's rare that most startups have that right out of the gate. So why add to your burden?