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ylluminate

posts: 1

Nov 05, 2008 9:55 PM ET    Quote  Report Abuse
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We have a very exciting new company that is social networking centric and is a very disruptive technology.  We`re currently in discussions with some strong potential candidates for funding, however we`d like to cover our bases and keep our options open as we`re suffering the "little red hen" syndrome at the moment.  We are very early stage and most folks are telling us to come back after we`ve developed the application out to a point where they "touch and feel" it.

Our dilemma is such that an initial small development is not a possibility.  We`re seeking a relatively substantial amount of money that is fringe angel/VC level, which adds some additional issues.

We`ve been tempted to fund it ourselves (read: loans), but frankly the past year of development has drained us and that type of funding is not really an option for us right now.

Again, we`d very much like to network out and would even be interested in teaming up with someone with the appropriate resources and experience that could broker a deal for us.  We`re quite a gifted group of folks and if we could get before the appropriate connections are certain that we could "wow" them by the quality of our venture and our own level of commitment.  

We have attended TechCrunch50 and may make it to Le Web depending on a few variables and understand that we are frankly ahead of the funding curve in that we have all of the attributes that a VC may want, except for traction in the form of a developed application.  Other than that we`re ahead of the curve and offer a tremendously exciting opportunity and are poised to launch the application within 2-4 months post initial infusion, which is a very nice turn around and certainly better than most others can promise.
FastVentures

posts: 306

Nov 06, 2008 11:24 AM ET    Quote  Report Abuse
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I just came across your post and although it’s very nicely written, it doesn’t offer any insights into what you guys are working on. Social networking has become such a buzzword that it almost lost any meaning and/or value. As a matter of fact, most VCs now stay way clear of any social networking centric applications because they’re notoriously hard to turn into revenues.

On the upside, attending conferences like “Tech Crunch 50” is an excellent way of getting exposure to VCs, investment arms of larger corporations like Microsoft, and/or celebrities that have the ability to write you a check if they like what they see.

I would be interested in reviewing your business plan, website, or road show to see if there’s anything my firm or I can do to assist. So, if you’re interested please feel free to PM me.


Mark



-------------------------


Jackson Steiner
http://www.JacksonSteiner.com

Advanced Document Design for entrepreneurs, intermediaries, and the financial services industry.
http://www.Publications.FastVentures.com
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