Investors and investments - bad experience

Goodnight% username%

Recently, startups have written a lot about investments in a blog.

I want to share my unsuccessful experience of communication with investors.

Without mentioning names and company names -

let's look at my mistakes

Perhaps it will be useful to someone.



To begin, briefly about what I turned to investors.

E-commerce project.

The software part is 99% ready, a business plan, a small market survey (already outdated), an understandable monetization scheme (not selling advertising), a return to self-sufficiency in a year.

What did I need from investors

I think it would be possible to omit this item.

What do you need? Of course, money (or services).

usability, marketing, offline costs (sal. employee, hardware, etc.)

To whom addressed

4 investment funds 1 business angel and 1 more subject of this market which I would identify as a person who has money

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What happened in the end

Fund # 1 responded immediately that they were not interested in this topic (and even briefly described why).

Fund # 2 has proposed such an investment scheme.

they give a loan at 15% per annum with the ability to start the first payments on it in a year

for this they wanted a very large% of the $ 1 project - such conditions seemed unprofitable to me.

Fund # 3 interested in the idea asked for a more detailed description (it was made)

then there was a meeting at which investment options were specified (they came to a mutually convenient scheme)

further, within 2 weeks, constant clarifications and clarifications were requested.

after which the contact person (general producer) disappeared without explanation of any reasons.

Fund # 4 immediately said that they want 51% and will be able to invest only 30% of the required amount - negotiations are underway.

The business angel showed interest, requested additional information and disappeared safely.

the subject with money corresponded for a long time, figuring out the essence of the project, agreed on a meeting that he overslept ...

Yes, I also could not believe it, but on that end of the tube a sleepy voice spoke something not intelligible, after that he probably decided that it was not worth talking at all and was also gone.

I lost time, did not find the money, told a lot of people about my project who shouldn’t be told.

  By the word gone, I mean ignoring letters or calls.
 all the people (funds) to whom I turned pretty well-known and major players.
 For my part provided all the required materials.
 I do not understand the fact of how to conduct your business in this way, but I was very surprised when I discovered that the spirit of the dashing entrepreneurship of the 90s was still alive in the web era.