The Misalignment of Mid-tier VCs
We just finished raising 750k in a seed round. We are extremely happy with the investors we got, most of them are execs at big-name travel sites like Orbitz, Cheapflights, Momondo, Trippy and CarTrawler, and a couple smaller VC firms. But I encountered a bunch of mid-tier venture capitalists along the way who I thought were borderline delusional, and it was extremely frustrating.
The number of VCs or investors I’ve met with who have said something along the lines of “once you have hit ____ ridiculous metric we’d be interested to reopen the conversation.”
Now, Sequoia, Founders Fund, General Catalyst, KPCB, A16Z, they can say that. Because once we hit that ridiculous metric, we WILL come back to them and still ask them for their money.
In our case, it’s often a full integration of Mozio into an airline, etc. which is kind of ridiculous: if we can convince an airline to integrate us,...
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