Acquired

Season 2, Episode 2: Raising a Seed Round with Against Gravity CEO Nick Fajt

Feb 7, 2018

01:18:37

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Highlights

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Episode notes

We're Able to Focus on Problems That Aren't Revenue Generating

01:54

What's Your Take on the VR Market to Day?

03:04

Ike, Should We Make This Nineteen Ninety Nine?

01:53

Introduction

2min

What's a Common Misconception About the Sale Process?

3min

Against Gravity Capitalization - What's Next?

2min

How Did You Make So Much Progress With So Little Money?

3min

Hollow Lenses, Microsos - What Is It?

4min

VR - What's the Intention When You Were Starting?

4min

How Did You Get Started Raising Convertible Notes?

1min

The Convertible Note - Is It a Convertible Note or a Debt That Converts Into Equity?

2min

Fund Raising - The Other Non Traditional Thing That You Didn't Want to Do, Right?

2min

10.

I'm Not Sending You a Deck, but if You're Not Interested, They're Probably Pretty Interested.

3min

11.

Is There a Way to Build a Product?

3min

12.

What Was the Conversion Rate Through the Seed Round?

2min

13.

What Impressions Did You Get From the Early Days of Seqoia

4min

14.

How Did the Process Wrap Up With Sequoi?

3min

15.

You Get the Investors You Ask For?

3min

16.

The Board Is There to Make Sure That Progress Is Being Made

3min

17.

How Far Can We Stretch to Make It to Four Million Dollars?

3min

18.

We're Able to Focus on Problems That Aren't Revenue Generating

2min

19.

Ike, Should We Make This Nineteen Ninety Nine?

2min

20.

Wreck Room - A New Pirate Quest Coming Soon

2min

21.

We've Been There, You Know?

4min

22.

What's Your Take on the VR Market to Day?

3min

23.

Technology Waves and the Difficulty to Predict Them

2min

24.

Stamina Matters More Than Anything Else

2min

25.

How to Get the Right Investors and Partners for a Startup

3min

26.

Founders and Investors Make the Same Mistake

2min

27.

Is There a Ready Player One?

2min

28.

Book Review - Seventy Years

3min

29.

The Switch - Is It a 'Switch'?

4min

We launch mini-series on Acquired with a subject near & dear to our heroes’ hearts: startup fundraising! This has been one of our most-requested new topics, and we’re excited to kick things off with makers of the popular Rec Room social VR app, Against Gravity, which raised one of Seattle’s hottest venture rounds in recent history: a $4m seed led by Sequoia Capital in 2016. CEO Nick Fajt joins to tell the story from company inception to building and shipping the initial product, fundraising as a first-time CEO, what they’ve been able to accomplish with the capital and their vision for the future. We had a blast touching on many classic Acquired themes for the first time “in-action” with a young, growing company, and hope you all enjoy the discussion as much as we did. Let us know what you think in the Slack!

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