Le AngelList Blog
A blog about AngelList. For startup advice, see Venture Hacks.
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Invest Online now available to all startups with a good lead
Invest Online is now available to any startup that has a top-tier lead investor.
Prior to today, startups would apply to use Invest Online and we would select which ones got in. Now it’s a self-service feature for any startup with a good lead.
And, of course, startups can still use AngelList to get meetings with investors and take their investments offline.
What’s Invest Online?
Invest Online lets accredited investors make investments as small as $1K in startups. It gives investors access to startups that normally wouldn’t consider small investments. And it gives startups access to a large pool of investors that want to invest smaller amounts.
Which companies can I invest in?
18 companies including Transcriptic, Double Robotics and Tred have already used Invest Online to raise over $6M from 620 investors.
We’re launching this new version of Invest Online with 28 companies that have top-tier co-investors like Andreessen Horowitz, Mark Cuban and Founders Fund.
What does it cost?
We are running this at cost. Investors pay $250 per investment and the startup pays $10K if the Invest Online campaign is successful.
Protecting online investors
First, don’t invest in startups unless you can afford to lose your money—read our investing guidelines. Second, every startup has a top-tier individual, VC firm or incubator who is investing at least $100K and setting the terms for the round. Third, SecondMarket performs some due diligence on each company.
Bonus
Over 300 startups on AngelList qualify to use the new version of Invest Online. But only 28 have activated it so far. So how do you tell the other 272 startups that you want to invest online?
We’ve got the feature for you. You can notify any startup that you want to invest online. You’ll get notified if they turn it on.
If you’re interested in the details, read the FAQ or just get started. Also see the coverage in the WSJ and TechCrunch.
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500 Startups, TechStars and 16 other incubators now accepting applications on AngelList
500 Startups was the first incubator to use AngelList’s incubator application. And today, they announced that they are using it exclusively for their next class.
18 incubators are now accepting startups via AngelList, including TechStars, MuckerLab and Mozilla. Interested incubators can create applications through their incubator profile.
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Dope new embeds for your startup
Say hello to our new embeds:
You can find embeds by adding /embed to a startup URL like https://angel.co/yourmechanic/embed or a user URL like https://angel.co/aplusk/embed or by clicking the Embed button on a profile:
You can optionally include job openings you’ve posted on AngelList:
Enjoy. And please let us know what kind of embeds you need. We might just build it.
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Browse (anonymous) valuations
This isn’t exactly new, but we haven’t exactly announced it either. You can now browse valuations on AngelList. The data is for seed-stage companies and is obviously anonymized.
You can also filter by college, incubator, employer, time, location and market.
Our data is neither complete nor perfectly accurate. But it is a great complement to the way you’re probably setting your valuation right now (asking your friends “So, what do you think our valuation is?”)
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$1 million in online investments in the first month
Yesterday, our new Invest Online feature hit $1M in commitments in the first month. Plus another $12M in offline investments via AngelList in the same time period (investor meets startup on AngelList and invests offline).
3 companies have already finished raising money online. And 7 companies are currently accepting online investments; co-investors in those rounds include David Sacks (founder of Yammer), Garry Tan (partner at Y Combinator), Danny Rimer (partner at Index Ventures) and many other great investors.
Today, we’re also announcing that investors can express interest in investing online in any startup on AngelList through the Invest button or after Following a company.
Once a company lands a top-tier investor, they have the option to accept online investments and interested investors are notified.
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AngelList API now handling 3 million requests a day
The AngelList API recently hit 3 million requests a day including:
- 50 partners who use AngelList Oauth, including SecondMarket and 500 Startups
- Incubators like TechStars and Launchpad LA who use the API for their applications
- SendGrid, who uses the API to identify their high-value customers
Big VC firms who shall go nameless are using it too (we haven’t asked their permission to mention them by name).
Developers around the world are using the API to create iPhone and Android apps, visualize the world of fundraising, and automate their startups’ AngelList profiles. See a few of them here.
The API began as a side project by Josh Slayton; the first big customer was Rapportive, who still sends nearly a million requests a day to the API.
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$12M raised on AngelList in the last 30 days
Startups meet investors on AngelList in two ways:
#1: Investors request meetings online and invest offline.
#2: Investors make small investments with our new ‘invest online’ feature.
Add these up and startups have raised $12M on AngelList in the last 30 days. 95% of it is through an online meeting request followed by an offline investment, but online investments are growing since we launched it last week ($600K so far).
We’re tracking this number on the homepage now.
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Must-see video of Naval’s fireside chat at PandoMonthly. For those who prefer to read:
AngelList is Craigslist for entrepreneurs
AngelList now powering applications for incubators like TechStars Boston, AngelPad
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AngelList Docs: Close your round online
It’s here. AngelList Docs. Close your round online. Finally.
A term sheet for humans. It starts with a beautiful term sheet that’s designed for real people, so you and your investors can easily understand the terms. Then you’re guided through the closing, automatically generating closing docs in the process. Collect signatures and wire information with a few clicks when you’re done.
Industry standard documents for equity and debt. The term sheet and closing documents are based on industry-standard Series Seed documents, so there is little to no negotiation. That means the closing happens faster and cheaper. There’s also an option to customize the docs if necessary.
No legal fees. The top startup law firm, Wilson Sonsini Goodrich & Rosati, will close your round without any legal fees if you qualify. And any law firm can use Docs to close your round online—please ask them about their fees.
Success Stories
Lookmark and Cucumbertown have used Docs to successfully close their seed rounds from investors including James Hong, Garry Tan and Jim Young. Many others are using it to close their round right now.
Hundreds of companies have also used the underlying Series Seed documents in Docs to close their rounds.
Availability
Docs is currently in limited release. During this period, startups must apply to use Docs. After the limited release period, we will open Docs to the general public.
Learn more about Docs at the pretty landing page or the FAQ.
Coverage on PandoDaily, TechCrunch and CNET.
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The curve they didn’t want you to see! Investors will lose their head when you do this. Learn this little trick…
(Total area: $1.1B. Total area under the top quartile: $750M. Total area to incubator startups: $227M.)
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