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Talking to Investors 
December 2014 
Dalton Caldwell - Michael Seibel - Qasar Younis
What 
we 
will 
discuss: 
-­‐ Before 
the 
meeting 
(Michael) 
-­‐ During 
the 
meeting 
(Dalton) 
-­‐ After 
the 
meeting 
(Qasar) 
-­‐ Q&A
Overview 
1. 
30 second pitch 
2. 2 minute pitch 
3. When to fundraise 
4. How to setup investor meetings 
0/4 
How to Pitch
1 30 second pitch 
How to Pitch 
What does your 
company do? 
How big is the 
market? 
How much traction 
do you have? 
1/4
2 minute pitch 
How to Pitch 
• Clear 30 second pitch 
• Unique insight 
• How you make money 
• Team 
• The Big Ask ($$$) 
2/4
When to Fundraise 
How to Pitch 
Growth 
Real World :( 
Ideal World :) 
3/4
How to Setup Investor Meetings 
How to Pitch 
$ 
Think 
Parallel 
$ 
1 Team 
Member 
$ 
Warm 
Intros 
4/4
What 
we 
will 
discuss: 
-­‐ Before 
the 
meeting 
(Michael) 
-­‐ During 
the 
meeting 
(Dalton) 
-­‐ After 
the 
meeting 
(Qasar) 
-­‐ Q&A
Mock 
pitch 
sessions 
-­‐ The 
goal 
is 
to 
highlight 
good 
and 
bad 
behavior 
(not 
mimic 
a 
real 
conversation) 
-­‐ Focused 
on 
seed 
stage 
capital, 
first 
time 
founders 
-­‐ Dalton 
= 
Investor, 
Qasar 
= 
Founder 
-­‐ 2 
sessions: 
weak 
pitch 
and 
a 
good 
pitch
Avoid 
common 
mistakes 
Introduction: 
Make 
sure 
the 
listener 
understands 
what 
you’re 
working 
on. 
Progress: 
Know 
your 
numbers! 
Market 
size: 
Ideally 
build 
bottom 
up 
analysis 
Insights: 
You 
should 
understand 
something 
that 
is 
counter 
intuitive 
Team: 
Your 
team 
should 
be 
uniquely 
suited 
for 
this 
business 
Asking 
for 
money: 
Drive 
the 
conversation 
to 
a 
conclusion
Hallmarks 
of 
a 
good 
pitch 
-­‐ Capture 
interest, 
told 
an 
interesting 
story, 
engage 
with 
the 
listener 
-­‐ Demonstrate 
insights 
and 
command 
of 
the 
market, 
passionate 
not 
dismissive 
-­‐ Collaborative 
meeting 
more 
than 
an 
interrogation 
-­‐ Actually 
ask 
for 
money
What 
we 
will 
discuss: 
-­‐ Before 
the 
meeting 
(Michael) 
-­‐ During 
the 
meeting 
(Dalton) 
-­‐ After 
the 
meeting 
(Qasar) 
-­‐ Q&A
After 
the 
meeting 
-­‐ 
Follow 
up 
(anything 
by 
a 
check 
is 
a 
“No”) 
-­‐ 
Work 
on 
creating 
deal 
heat 
(supply 
/ 
demand) 
-­‐ 
Do 
diligence 
on 
the 
investors 
-­‐ 
Know 
when 
to 
stop 
(addicted 
to 
fundraising) 
-­‐ 
Build 
your 
company! 
(fundraising 
is 
not 
the 
goal)
What 
we 
will 
discuss: 
-­‐ Before 
the 
meeting 
(Michael) 
-­‐ During 
the 
meeting 
(Dalton) 
-­‐ After 
the 
meeting 
(Qasar) 
-­‐ Q&A
Thank you.

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Y Combinator Startup Class #19 : How to talk to investors 2/2

  • 1. Talking to Investors December 2014 Dalton Caldwell - Michael Seibel - Qasar Younis
  • 2. What we will discuss: -­‐ Before the meeting (Michael) -­‐ During the meeting (Dalton) -­‐ After the meeting (Qasar) -­‐ Q&A
  • 3. Overview 1. 30 second pitch 2. 2 minute pitch 3. When to fundraise 4. How to setup investor meetings 0/4 How to Pitch
  • 4. 1 30 second pitch How to Pitch What does your company do? How big is the market? How much traction do you have? 1/4
  • 5. 2 minute pitch How to Pitch • Clear 30 second pitch • Unique insight • How you make money • Team • The Big Ask ($$$) 2/4
  • 6. When to Fundraise How to Pitch Growth Real World :( Ideal World :) 3/4
  • 7. How to Setup Investor Meetings How to Pitch $ Think Parallel $ 1 Team Member $ Warm Intros 4/4
  • 8. What we will discuss: -­‐ Before the meeting (Michael) -­‐ During the meeting (Dalton) -­‐ After the meeting (Qasar) -­‐ Q&A
  • 9. Mock pitch sessions -­‐ The goal is to highlight good and bad behavior (not mimic a real conversation) -­‐ Focused on seed stage capital, first time founders -­‐ Dalton = Investor, Qasar = Founder -­‐ 2 sessions: weak pitch and a good pitch
  • 10.
  • 11. Avoid common mistakes Introduction: Make sure the listener understands what you’re working on. Progress: Know your numbers! Market size: Ideally build bottom up analysis Insights: You should understand something that is counter intuitive Team: Your team should be uniquely suited for this business Asking for money: Drive the conversation to a conclusion
  • 12.
  • 13. Hallmarks of a good pitch -­‐ Capture interest, told an interesting story, engage with the listener -­‐ Demonstrate insights and command of the market, passionate not dismissive -­‐ Collaborative meeting more than an interrogation -­‐ Actually ask for money
  • 14. What we will discuss: -­‐ Before the meeting (Michael) -­‐ During the meeting (Dalton) -­‐ After the meeting (Qasar) -­‐ Q&A
  • 15. After the meeting -­‐ Follow up (anything by a check is a “No”) -­‐ Work on creating deal heat (supply / demand) -­‐ Do diligence on the investors -­‐ Know when to stop (addicted to fundraising) -­‐ Build your company! (fundraising is not the goal)
  • 16. What we will discuss: -­‐ Before the meeting (Michael) -­‐ During the meeting (Dalton) -­‐ After the meeting (Qasar) -­‐ Q&A