TSP005 | Andrew Ackerman – How Meerkat Got Funded

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TSP006 | Jim Beach - Pitching at The White House
TSP004 | Andrew Medal - From Prison To Angel Investor

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Episode Summary

Andrew Ackerman is the Managing Director for DreamIt Ventures. He was the COO of Bunk1.com and shares some insight on how he pitched people within 30 seconds or less. Andrew also talks about how Meerkat got started and what it takes to get the attention of a potential investor.

Key Takeaways

  • 02:40 – Andrew talks about Bunk1.com
  • 09:20 – Don’t pitch everything, just pitch enough so your customer asks you more.
  • 17:15 – The one skill that’s critical for an entrepreneur is empathy. Put yourself in the investor’s shoes.
  • 18:35 – Andrew breaks down the different viral levels a company can fall under.
  • 24:05 – Andrew talks about Meerkat.
  • 27:10 – Help an investor understand what makes your company special right off the bat.
  • 31:10 – Reach out to Andrew via email with a warm introduction and a clear subject line.

Tweetables

[Tweet “Don’t pitch everything, just enough to get them to lean forward.”]

[Tweet “It’s important for people to realize that just ’cause you’re in love with something doesn’t mean it’s the right thing to pursue.”]

[Tweet “Meerkat is an overnight sensation two years in the making.”]

Links Mentioned

Mastering the VC Game by Jeff Bussgang [book]

Andrew Ackerman runs DreamIt’s startup accelerator program in New York. Serial entrepreneur, former investment manager at a family office, and recovering management consultant. Follow at @AndrewAckerman and @DreamItVentures.

DreamIt is one of the top accelerators in the world, having helped launch 178 companies since 2008 including SeatGeek, Meerkat, LevelUp, Adaptly, Parsely, Elevate, Cloudmine, Biomeme, et. al., who have collectively gone on to raise $270M and who are worth over $810M.

DreamIt is currently accepting applications for the DreamIt Health Philly program starting in July. Application deadline May 1:
http://dreamit.com/apply/

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TSP006 | Jim Beach - Pitching at The White House
TSP004 | Andrew Medal - From Prison To Angel Investor
Tags: Andrew Ackerman, angel investors, collaboration, confidence, entrepreneur, funding, networking, pitch, right brain connection, sellingsecretsforfunding, start ups, story telling, successful pitch, team, traction, venture capital, vision