Founder's Journal
How To Raise Capital Successfully with Dan Siroker
Nov 29, 2023
Dan Siroker, Co-founder and CEO of Rewind, raised a $15M Series A at a $350M valuation by publicly putting his pitch deck on X (formerly Twitter), received 170 offers for investments ranging from $200M to $1B valuations. They discuss his unconventional approach to raising capital, timeless principles for fundraising, and lessons learned from his experience. They also explore the significance of trust, transparency, and alignment of values with investors. Additionally, they delve into the importance of uncovering insights through hypothetical questions and the pros and cons of higher valuations and long-term vision in investors.
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Quick takeaways
- Dan Siroker raised a $15 million series A publicly on social media by putting his pitch deck on Twitter, resulting in over 170 offers for investment ranging from $200 million to a billion-dollar valuation.
- When choosing investors, Dan prioritized values alignment and long-term orientation, ensuring they trusted and aligned with his vision, rather than trying to replace him or exploit the company's dynamics.
Deep dives
Unconventional Series A Fundraising Approach on Twitter
Dan Siroker, co-founder and CEO of Rewind, raised a $15 million series A publicly on social media by putting his pitch deck on Twitter. This unique approach generated a massive response, with over 170 offers for investment ranging from a $200 million to a billion-dollar valuation. By being transparent and showcasing the company's real business and strong financials, Dan built trust with potential investors. Additionally, the timing aligned with the AI hype cycle, generating significant interest. Ultimately, Dan raised $15 million at a $350 million valuation with $700k in ARR, proving the success of his unconventional approach.
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