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Today's Founder’s Journal is about how Morning Brew raised money.
It was highly unorthodox to say the least.
We raised $750,000 from 28 individuals.
Time to share the original investor deck with a hint of commentary.
Read on
It was highly unorthodox to say the least.
We raised $750,000 from 28 individuals.
Time to share the original investor deck with a hint of commentary.
Read on
𝗧𝗶𝘁𝗹𝗲 𝗦𝗹𝗶𝗱𝗲:
1) We were very clearly not designers
2) That very quickly became our old logo
1) We were very clearly not designers
2) That very quickly became our old logo
𝗔𝗴𝗲𝗻𝗱𝗮:
This could be the world's longest agenda.
In hindsight, 75% of this was fluff.
All our investors really cared about was our business plan & how we planned to use their money.
This could be the world's longest agenda.
In hindsight, 75% of this was fluff.
All our investors really cared about was our business plan & how we planned to use their money.
𝗩𝗶𝘀𝗶𝗼𝗻 𝗮𝗻𝗱 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻:
It's amazing how consistent our vision has been since Day 1.
All that's changed is the manifestation of that vision.
Started with 70k subscribers.
Now it's 7 products and 3 million people in-ecosystem.
It's amazing how consistent our vision has been since Day 1.
All that's changed is the manifestation of that vision.
Started with 70k subscribers.
Now it's 7 products and 3 million people in-ecosystem.
𝗠𝗶𝗹𝗹𝗲𝗻𝗻𝗶𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲:
This is a very stupid slide.
This is a very stupid slide.
𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗣𝗹𝗮𝗻:
This is the slide investors cared about.
For two 20-year-old, first-time founders to convince investors, we had to show our maturity with a clear plan.
What's wild is this plan was spot on.
Just took 5 years not 5 months to achieve.
This is the slide investors cared about.
For two 20-year-old, first-time founders to convince investors, we had to show our maturity with a clear plan.
What's wild is this plan was spot on.
Just took 5 years not 5 months to achieve.
𝟮𝟬𝟭𝟳 𝗧𝗶𝗺𝗲𝗹𝗶𝗻𝗲:
To my last point, first-time founders are REALLY BAD at predicting timing early on.
We said we'd launch a new vertical in October 2017.
That didn't happen until March 2019.
To my last point, first-time founders are REALLY BAD at predicting timing early on.
We said we'd launch a new vertical in October 2017.
That didn't happen until March 2019.
𝗢𝘂𝗿 𝗧𝗲𝗮𝗺:
We haven't worn a suit & tie since.
We haven't worn a suit & tie since.
𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗣𝗿𝗼𝗽𝗼𝘀𝗮𝗹:
We ended up raising $750,000 (not $250,000) from 28 individual investors.
It was a great group of people, who believed in us throughout.
The one challenge: wrangling documents from 28 people was a nightmare.
We ended up raising $750,000 (not $250,000) from 28 individual investors.
It was a great group of people, who believed in us throughout.
The one challenge: wrangling documents from 28 people was a nightmare.
And that's Morning Brew's fundraising story!
If you want the full story check out today's episode of Founder's Journal about our fundraise: http://apple.co/3aeMYtX
And follow me on Twitter for more threads about entrepreneurship, business, and media: https://twitter.com/businessbarista
If you want the full story check out today's episode of Founder's Journal about our fundraise: http://apple.co/3aeMYtX
And follow me on Twitter for more threads about entrepreneurship, business, and media: https://twitter.com/businessbarista
