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According to a venture capital guru at Harvard Business School, 90 percent of start ups will never receive a second round of funding. Of the 10 percent that do, many of them struggle to take their business to the next level. Part of the issue is the risks that have accumulated as the business has developed – risks that make potential investors nervous and less likely back your venture. Having attracted a significant amount of venture capital, Bitcasa has successfully negotiated early stage growth and continues evolving to ensure profitability and continued investment. In this session Bitcasa CEO, Brian Taptich will discuss lessons learned in the start up journey including how to attract funding, avoiding the ‘valley of death’, developing operations and infrastructure to support growth, and making tough decisions to ensure success.
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Avoiding the Valley of Death: Attracting Funding
About Bitcasa
Bitcasa Confidential & Proprietary
Bitcasa Confidential & Proprietary
Everything Looks Great!
4
• Dow 17k!
• Huge VC rounds!
• Huge VC valuations!
• IPOs everywhere!
Bitcasa Confidential & Proprietary
The Reality is Bleak (and always has been)
5
• 95% of startups don’t see ROI.
• 91% of startups don’t get to liquidity event.
• 90% of startups don’t get 2nd round.
Widening gap between “Haves” and “Have-Nots”
Bitcasa Confidential & Proprietary
How to Avoid the Valley of Death?
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• Manage capital efficiently.
• Get to scale quickly.
• Have a billion dollar story.
• Build the right team.
Bitcasa Confidential & Proprietary
Which Means What, Exactly…?
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• Build lots with a little.
• Understand what “scale” means to you.
• See the path to a billion.
• Hire slow, fire fast.
Bitcasa Confidential & Proprietary
Know Your VC Audience (A Cynic’s Take.)
8
• 10-year asset managers.
• The scourge of “pattern recognition”.
• Killing you with kindness.
• The myth of “smart” money.
Bitcasa.com/platform
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