white on "Introduction to Atomkeep -- the next big thing"

white — Thu, 19 Jun 2008 17:54:10 +0000

Hello everyone,

My name is Olexandr Prokhorenko. As you might already know, I was the one of two guys who started the BossTalks.com in the beginning of March 2007.

Today I'd like to share my next big thing with you. So, please, let me introduce Atomkeep - the service that solves the problem of information redundancy.

So what actually Atomkeep is? We're the first service that created to really share the people profiles. Either you're a social networker, or a job seeker or a professional - all of you are having the same problem of data redundancy. There are too many social networks around, too many job boards, directories and sites that want you to keep your profile there.

Being an active member of any community requires you to keep your profile up to date all the time. Nobody likes "dead heads". Once your Internet exposure is starting to grow, you're starting to spend much more time on keeping the things in sync. But we can take save your time. Don't waste your time on routine clicks, but have fun. This is what Atomkeep for.

Let me give you another example. Have you ever faced a choice if you should sign to one more (maybe, more interesting or narrow) job site, but was pissed off and decided not to do this when you saw how big is the resume profile in it? I bet you did. But we can help you here as well. This is a typical situation when Atomkeep becomes a priceless service to use (and stays free!).

Or might be you are a business owner and have listed your business contacts at the tens (or even hundreds) of different boards and directories, but it's time to move on and your contact are changing? Most of the time changes are good if everyone knows the new contacts. However, can you imagine the crowd of potential clients who got lost and choose your competitor over you just because they got the wrong phone number? Atomkeep is a good service to use now.

This is our first day of public release. Our team has been working on it for a while and now we are ready for a launch. So go ahead, take a quick look, register there, it's absolutely free and takes only a minute, and give us your feedback.

Atomkeep is built for users. Users are the most important elements in the Atomkeep design and we're committed to complete user satisfaction. Let us know, either you like something or not. Any opinion counts and valuable for us.

So, thank you and welcome to Atomkeep!

Sincerely yours,
Olexandr Prokhorenko,
Founder of Atomkeep.

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white on "TiE Meet the TCA Angels (event notes)"

white — Wed, 30 May 2007 08:19:46 +0000

This event was held at 5/29/2007 at the California State University in the Long Beach.

http://www.techcoastangels.com/Cal/PublicEvents.aspx?EventID=2541

It was leaded by John Morris who is past President and on the Board of Governors of the Tech Coast Angels (TCA) and Managing Director of GKM Ventures.

Here are some notes on the events.

It was an introductory meeting, it wasn't supposed to be very specific, it was detailed enough so everyone could get an answer for his questions. It was a pretty interesting networking for the first hour. And the very hot and spicy dinner -- it was nice, but only for those who can eat fire.

This is the first and experimental event on the Long Beach. Few words about the TiE (the organization which runs the event). TiE provides a range of opportunities for entrepreneurs and a mentorship programs. They have a regular seminary, TiEcon, and it is going to take place in the middle of September this year. Currently, TiE is developing close relationship with TCA.

When the time for Tech Coast Angels (TCA) presentation came, they started with the Key Trends:

VC Funds getting bigger, investment size increasing
Technology helping lower startups costs
Organized angel investing has become a national theme
VCs have grown t respect Angels, slowly
Angel bandwidth for coaching and mentoring is major value add for seed stage entrepreneurs
2006 nationwide Angel investments in 2006 topped $25.6 billion, matching VC investments in all rounds
VCs affiliate program is very important

Few words about the TCA:

TCA celebrates the 10th year
TCA is largest Angel organization in US
TCA has completed 41 deals in 2006, among them 20 new deals, 21 follow-ons
$11.4 millions from TCA, $96.4 millions from VCs
TCA organizes four groups (networks)
2005 was a break out time for TCA deals

The typical TCA Deal Flow Funnel:

Pre-screen
Network Screening Presentations -- 40% of opportunities
Due Diligence, Valuation and Terms -- 10%
Network Dinner Presentations -- 4%
Fund -- 2%

Typical TCA Investment Criteria:

Technology is a core
Located in Southern California (within driving range)
Addressing a compelling business need
Protect-able IP or barrier to competition
Validation from existing or potential customers or users
Market size enabling more 10x return within 5 years
Coachable and talented management team
Ability to attract future funding
More than just technology

Thesis from the event:

There are several Angels groups in the Southern California. They are often interconnected. In example, one of the speakers, Mr. Al Schnaeider -- one of the founders of LA Angels and Pasadena Angels networks, was one of the founder of Pasadena's one.
Angels don't like to do follow-ons, but TCA hit a lot of them last year.
Angels have a lot of VCs affiliates and sponsors -- can help you to get to the right firm and organization.
The recent TCA investments was made to Make It Work, Mindbody, Coda, etc.
VCs don't have as much time for you as Angels do.
Angel expect to do a lot of mentoring, because can really help, but not only write a check.
VCs can write a bigger checks and it's harder to reach them.
Most early stage companies fail because they make a failure mistake and they are very limited in possibilities.
TCA view of the entertainment industry -- they neither stay or go with entertainment industry. They work closely with the merger of Internet and real life social networking and entertainment media. But they are not always about technology component. Content development is very important. Entertainment is a tough industry and built on a risk pyramid and very challenging.
Nowadays it's not about a building your website, but it's about marketing it.
Angels try to act similar to VCs (in matter of investment rounds, etc).
It's awfully easy to take money from Friends & Family, but it's important to put it in writing properly. Every transaction should be properly documented.
Angels expect at least 12-15 months period of time for each funding round.
Valuation is not an academic science. Valuation depends on development stage, nature of market, risk, time range of the projects, reasonable projection, etc. In common, the valuation is a very complex question.
Angels don't want to mess with out-of-country and different-culture problems, but sometimes they do.
Business investor slides are for Angels, business plan for entrepreneur. Investor slides is the methodology nowadays, it's 15-20 slides and that's all. Written document (business plan) is not that important. Business plans are yesterday. Key elements of business plan should be included into investor slides. Substance is more important than a form. Quality of the answers is more critical than a business plan. Put up a chart in presentation and provide a reason why and how to get enough ROI for Angels. They take a high risk and want to get high ROI. You should be realistic in your calculations hitting the high revenues.
The ideal situation if the Angels loose money, the founder should feel badly, too.
Angels expect to see confidence in your business.
The pre-screening could be a session, when you are not ready with the slides, but know the core thing, so Angels can advice you what are you missing, because they suppose to do mentoring.
TCA have a very deep relations with UCLA, Caltech, etc and they provide mentoring and coaching over there.
Management vs governance. Angels want to help on opening the path to customers and clients. They offer help to management, but try not to force it.
You've got to have some customers who are interested. Needs to be a high enough pain for the problem which you're solving and a potential customer needs to want to work with the startup. Only 2% of business are willing to work with the startups.

In total, it was a pretty interesting event, which helps to build a great networking.

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white on "Introduction to Atomkeep -- the next big thing"

white on "TiE Meet the TCA Angels (event notes)"