Caught this report out of IrishTimes.com – a company raised a nice pot of venture funding exclusively through LinkedIn.
That’s the kind of story worth looking at;-)
2% in ten shares of €25,000
According to the article about Goshido on IrishTimes.com, they sent out some seven hundred inquiries through LinkedIn, received two hundred responses, and worked through those over the phone, email and twitter to close €162,500 in eight days. (sounds like they booked six and a half of those ten shares)
At 2% for the ten shares, that looks like a .2% ownership per share – not bad for the company or the investors.
The article doesn’t mention what happened to the remaining three and a half shares – presumably they’ll also get sold now due to the publicity.
Taking a look at the company web site, it seems reasonable to me that the venture could succeed. The founder has spent time at Motorola, Digital, Tellabs, and most recently Intel. The product appears to be a web based project management tool – and who wouldn’t love to have a reason to dump MS Project?-)
And yes – the founder is on LinkedIn, though I think he could do more with his profile;-) He’s got 209 connections and is a third degree connection to me.
Before you leap…
I know it sounds attractive to head out and do a similar thing – but please remember to take the time to get things in order first.
You’ve got to have a sound business and plan for that business. Just because people get your message over LinkedIn doesn’t mean they’ll toss their dollars at a wacky idea.
The message you send has to be well crafted. (I’d love to get a copy of the Goshido message – but don’t expect that I’ll find it quickly enough – nope, not out there yet – perhaps someone could leave it as a comment?)
In my quick search for additional information I found a small blog entry from an individual who seems to knows the founder. The founder is apparently a regular at the Limerick Open Coffee Club – and we’ve also got one of those locally here – the Rochester OpenCoffee Club. I’ve been to several of their meetings when I can fit them in – and presented LinkedIn material in November. Perhaps there’s one near you?-)
This is exciting news and it looks like January is heating up – hope you’re staying warm too.
To your continued success,