Ask HN: Is it really worth it to join AngelList?

https://news.ycombinator.com/item?id=2954457

by Macshot • 15 years ago

14 8 15 years ago

news.ycombinator.com

I am Co-founder of a young startup (NoBadGift.com) and recently had a talk with my partners about how we plan to go about getting funding beyond ourselves, friends, and family. That's when one of my partners said we should sign up AngelList.co, but is it really as great as people say it is. Or, are we better off going at funding the old fashion way through networking and trying our best to get in front of investors

ig1• 15 years ago

What's your reason not to join AngelList ? - there's nothing stopping you both using AngelList and get investment from elsewhere as well.

Macshot3• 15 years ago

I guess it just seems like a place where everyone goes and you can get lost among all the other hundreds of starts ups trying to get in touch with the same investors.

idanb• 15 years ago

AngelList is an amazing resource that can really not only get you funding, but also provide you with some really amazing connections and even friendships! There is a really great investment community on that site and in general a really great culture as well.

With that said, you need to be aware that going online, setting up an AngelList account and spamming investors won't get you anywhere either. I think AngelList is a tool and it's up to you how to use it. Combined with "old fashioned" networking AngelList makes it much easier to get a seed round (or series financing) together.

You just want to make sure that, if nothing else, the investors you contact on AngelList have at least heard of you somewhat, or someone they know has. You can meet them by trying to go to events where these people are speaking or hanging out. Talk to them about your start up, maybe set up a coffee date. Once you've talked a few people (don't even mention fundraising at first!) then drop the hint that you guys are looking to raise some money. AngelList will then provide the gears, but you've always got to be the engine!

Macshot3• 15 years ago

idanb this is just what I was looking to hear. Others have been trying to sell me on the idea that all you had to do is join AngelList and all your worries were over. This makes a whole lot more sense to me as all the interaction I have had with investors go more along the line. Thank you for the great insight.

mrchess2• 15 years ago

I feel like you haven't even done any research on AL at all. Have even opened it up in a browser or read a little about it? You say you want to go the "old fashioned" way through networking... well AL is networking -- it is a social-network for investors.

You should read more about AL. But in short, yes, you should use it. It is much easier to find investors, and if you win one over, it is easier to extend out from their personal networks as well. I'd also recommend you start reading venturehacks.com.

Macshot3• 15 years ago

mrchess I have done my due diligence and found conflicting reviews. Some praise it as the greatest thing to ever happen to the fund raising process and others saying it is a complete waste of time. That's why I decided to make this post looking to insight from a community of people like myself I trust.

mrchess2• 15 years ago

OK! Well, check this out:

http://onstartups.com/tabid/3339/bid/63010/Raising-Money-On-...

If you can get 1 key investor or endorser, you're pretty much in. How do you get that key? Usually from networking in person, or by having stellar metrics that people can't turn down at least talking to you.

martinshen• 15 years ago

I say this too often.. The amount of time it takes you to question to fill out a form vs. the amount of time to actually fill out the form...

Just fill it out. Worst comes to worst.. something comes out of it.

Ask HN: Is it really worth it to join AngelList?

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