212th 1M/1M Roundtable: Series A Pitch Needs Clarity On Hard Numbers
During this week’s roundtable we listened to four presentations. The first two entrepreneurs are a part of the Startup Palm Beach meetup, the others are from our general community.
First up, Daniel Gudema from Boca Raton, Florida, pitched Krowde, a mobile social network for small businesses to manage their communities. In the roadmap is a web version as well. It’s an interesting and useful concept that is looking to get to the next level with some additional financing.
Next, John Benton from Fort Lauderdale, Florida, pitched Play2Shop, a cross-breed between eBates and Gaming, whereby, casual gaming is used to engage an audience that collects points and then redeems through e-commerce.
The company has started validating its multiple assumptions: monetization model, customer acquisition strategy, etc., using a seed funding it has raised already. Now, approaching the need for a Series A, it needs to get clarity on customer acquisition cost and the hard numbers driving this business.
Also, Ralf Lippold from Dresden, Germany, pitched HTxA, a social media marketing service for conference organizers. The concept is pretty straightforward. The entrepreneur needs some training on how to build such a business, which is plenty viable.
Then, Suraj Panjabi from Mumbai, India, pitched Blabberpad, a voice-oriented social media platform that the team has spent 2.5 years developing. At this point, the company is out of cash, and is looking for an acquirer. While I am not bullish about the prospects of acqui-hiring in India, if one of the readers is interested, please feel free to contact Suraj.
You can listen to the recording of this roundtable here.
Sramana Mitra is the founder of the One Million by One Million (1M/1M) initiative, a virtual incubation program that aims to help one million entrepreneurs globally to reach $1 million in revenue and beyond. She is a Silicon Valley entrepreneur and strategy consultant, she writes the blog Sramana Mitra On Strategy, and is author of the Entrepreneur Journeys book series and Vision India 2020. From 2008 to 2010, Mitra was a columnist for Forbes. As an entrepreneur CEO, she ran three companies: DAIS, Intarka, and Uuma. Sramana has a master’s degree in electrical engineering and computer science from the Massachusetts Institute of Technology.