Digital Yuppies 4 - Outdoor Festival, 24.10.2015 Speech from Giulia Gazzelloni, Le Cicogne www.digitalyuppies.it FB group: bit.ly/dy-group

1. Digital startups:
how to get money
from investors?
Top tips about Angels & VCs
Giulia Gazzelloni
Co-founder @LeCicogne
Board Member @InnovAction Lab Alumni

2. About me

3. Managing investor relations
it’s a full-time job

4. After two rounds…
we have learned
the lesson!

5. Digital = cheap
but
Digital Startups = $$$ BLN
à “scalability”

6. Do I really need
investors’ money?

7. BAs
invest
their own
money
≠
VCs
invest
someone
else’s money

8. We need them in order to gain
a great market advantage

9. VCs like to co-invest

10. VCs like to co-invest
because
any investor
who co-invests with you
is one less investor
who could fund a competitor

11. Investors always say
what they really care about is
the team.

12. Investors always say
what they really care about is
the team.
Actually what they care most is
your traffic,

13. Investors always say
what they really care about is
the team.
Actually what they care most is
your traffic,
then what other investors think,

14. Investors always say
what they really care about is
the team.
Actually what they care most is
your traffic,
then what other investors think,
than the team

15. It’s easier when
you do not have traffic

16. It’s easier when
you do not have traffic
It’s not enough to be promising:
you have to be delivering
results

17. VCs are afraid of looking bad
– angels take greater risks

18. Investors are human

19. Investors are human
1. They are emotional

20. Investors are human
1. They are emotional
2. They make mistakes

22. “On June 26, 2008, our friend Michael Seibel
introduced us to 7 prominent investors in Silicon Valley.
We were attempting to raise $150,000 at a $1.5M
valuation. That means for $150,000 you could have
bought 10% of Airbnb. Below you will see 5 rejections.
The other 2 did not reply.”
BRIAN CHESKY
CEO of Airbnb

23. BRIAN CHESKY
CEO of Airbnb

24. BRIAN CHESKY
CEO of Airbnb

25. BRIAN CHESKY
CEO of Airbnb

26. BRIAN CHESKY
CEO of Airbnb

27. BRIAN CHESKY
CEO of Airbnb

28. “He’s just not that
into you”

29. Most common answers:

30. Most common answers:
You are not in my investment focus

31. Most common answers:
You are not in my investment focus
You are asking too much

32. Most common answers:
You are not in my investment focus
You are asking too much
You are asking too little

33. Most common answers:
You are not in my investment focus
You are asking too much
You are asking too little
We are excited about your project,
let’s keep in touch as you develop it further

34. How do you know
if they want to invest?

35. How do you know
if they want to invest?
Look at your hands

36.
Rejection is a question, not an answer.
do not say “We suck” –
ask yourself “Do we suck?”

37. Common mistakes
1. You kind of ask “permission” to start your
company

38. Common mistakes
1. You kind of ask “permission” to start your
company à investors greatly prefer if
you don’t need them

39. Common mistakes
1. You kind of ask “permission” to start your
company à investors greatly prefer if
you don’t need them
2. You try to convince them with your pitch.

40. Common mistakes
1. You kind of ask “permission” to start your
company à investors greatly prefer if
you don’t need them
2. You try to convince them with your pitch.
à start by understanding why your
startup is worth investing in, for you.

41. No one knows whether a startup
is going to succeed.

42. No one knows whether a startup
is going to succeed.
Investors are looking for
a sufficiently good bet.

43. a sufficiently good bet:

44. a sufficiently good bet:
1. Formidable founders

45. a sufficiently good bet:
1. Formidable founders
the one who seems like he’ll get what he wants,
regardless of whatever obstacles are in the way
2. Promising market
it does not have to be big yet à trends

46. a sufficiently good bet:
1. Formidable founders
the one who seems like he’ll get what he wants,
regardless of whatever obstacles are in the way
2. Promising market
it does not have to be big yet à trends

47. a sufficiently good bet:
1. Formidable founders
the one who seems like he’ll get what he wants,
regardless of whatever obstacles are in the way
2. Promising market
it does not have to be big yet à trends

48. Smart guys
Good stories
Big Markets

49. Smart guys
Good stories
Big Markets
..great introductions.

50. The startup of
YOU.

51. The startup of
YOU.
Thanks!
giulia@lecicogne.net