

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

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
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mrchess
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.

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Macshot
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.

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mrchess
OK! Well, check this out:

[http://onstartups.com/tabid/3339/bid/63010/Raising-Money-
On-...](http://onstartups.com/tabid/3339/bid/63010/Raising-Money-On-
AngelList-21-Tips-From-Two-Active-Angels.aspx)

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.

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idanb
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!

~~~
Macshot
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.

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martinshen
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.

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ig1
What's your reason not to join AngelList ? - there's nothing stopping you both
using AngelList and get investment from elsewhere as well.

~~~
Macshot
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.

