Donnerstag, 7. Februar 2008

fatfoogoo´s financing success factors

@ the last barcamp vienna martin herdina, ceo of the austrian start.up fatfoogoo named three main success factors for their subsequent funding rounds:

1) use contact networks
they used their existing contacts for angel funding. and kept leveraging the angels contacts to acquire their first vc round. and guess how they are looking for their next investment? by using the network of their first round investors.
2) sell and convince
their contacts with the potential angel investors did not spare them the job to sell them the idea of fatfoogoo. they had to convince them about their visionary idea and the resulting business opportunities.
3) believe in yourself
strong believe in their ideas and abilities were and are necessary to push ahead successfully, not only in terms of financing.

there is nothing to add to that.