Hi, tech startup co-founder (CEO) here. Our product is a web/mobile app, aimed at travelers who want to explore a given community, near or far. We provide an end-to-end discovery, booking, and social experience. Hopefully that’s vague enough to not get banned for promotion but still give context for my question lol.

We are currently raising a pre-seed/angel round of $500k to give us 7-8 months to build/market the latest iteration of our MVP after two successful prototypes.

These are the stats we plan to take to investor meetings:

  • 4.7k users signed up on our first two prototypes with <$500 spent on marketing
  • 5% conversion rate on our current landing page with non-targeted (organic social) traffic
  • 5.3k emails ready to go for a launch campaign
  • 72% of survey respondents (175 surveyed) said they would use an app that has our functionality
  • 40% of survey respondents (same survey) said they used too many apps/websites to plan their travel, which was one of our big assumptions

My question here is - are these stats attractive enough to raise the kind of money we’re aiming for?

We also have financial projections going out 3 years showing us breaking even in ~18 months with an additional cash injection near MVP launch in late Q2 2024. We also have a full business summary with market analysis, monetization plans, etc.

I’m just racking my brain to make sure we have all the gaps covered once we land these meetings. I don’t want to waste anyone’s time.

Please let me know if you see anything missing or irrelevant. Happy to answer any questions as well.

Thanks for reading! <3

  • pmpprofessor@alien.topBEnglish
    1·
    10 months ago

    Based on the post.

    No venture is going to invest.

    If they do invest try giving up 50 percent of the company for 250k.

  • apmf272@alien.topBEnglish
    1·
    10 months ago

    I have just gone through a similar conquest you are about to embark on. We just launched our app in Oct with 10k users now and gearing up for a seed round.

    Watch the Y Combinator video libraries.

    The video on: Tempting startup ideas you should avoid, this one definitely hit home for us.

    You could definitely raise a 500k pre seed with what you have regarding your surveys and pre registrations.

    Probably a good idea to make sure you are solving a real problem, so get out and try and figure out if this problem you solve is that excruciatingly painful for people they will actually use your product.

    Go for it 🔥 Good luck

    • catfroman@alien.topOPBEnglish
      1·
      10 months ago

      Thanks!

      Yeah the problems we solve are very real. There are tons of inefficiencies in the way people currently navigate their immediate surroundings, or really any location-specific info.

      We can also digitize tons of needless physical media like flyers, menus, maps, billboards, etc. which saves print costs and reduces environmental impact.

      I will definitely check out the Y-Combinator videos. They have already been popping up on my YT recommendations anyway…

  • Rooflife1@alien.topBEnglish
    1·
    10 months ago

    Why did you only spend under $500 on advertising? That doesn’t make it sound like a serious business

  • Pethron@alien.topBEnglish
    1·
    10 months ago

    Stats by themselves show some traction but the matter here is how much time did it take to get there? What is your main metric? Also you should define better the focus of the investment since 500k for 6-8 months seems very high, usually you should think in cycles of 18 months or at least 1 year.

    • catfroman@alien.topOPBEnglish
      1·
      10 months ago

      That’s a bit of a difficult question to answer because we got the sign-ups pretty quickly on the early prototype version(s) of the app, but then it sat on the back-burner for about a year because we couldn’t think of a good way to monetize or retain users. Now those problems are solved and we are building the re-imagined MVP.

      As for the focus of the investment - we have it stated on our pitch deck that the investment is meant to build out the team a bit more to ship an MVP, and acquire our first 50k users, all within 8 months.