I'm not really sure how Angel List works. I listed my startup a couple of weeks ago and it's had just 3 views. We don't have any "Social Proof" since we have been bootstrapping to this point. It feels as though Angel List has no utility unless you already have taken some money or a have a well known advisor. I also have not listed Price & Terms, which I have a feeling is also hurting the profile, as I'm not yet sure how much I should be raising and would like to discuss that with a potential investor first. So, if I have no "Social Proof", how likely are investors to find my company's profile on Angel List?
Edit: I guess there is also the possibility that my company will not be the next Facebook nor does it even aspire to be and because of that, I guess it might not be interesting to investors.
best way to start on angel list is:
1) get at least one notable angel to introduce it / submit it
2) ideally have them introduce you to a few others (privately)
3) once you have some visibility / traction with a few folks, then set your listing public and open it up to the rest (if you want)
this should probably be a separate thread here or on Quora to discuss best techniques for marketing a deal on Angel List. i'll try and write a blog post on this or a Quora question in the future. it's worth diving into more.
That does make sense, and if that is the way it works, that's the way it works. The name AngelList, at least from an entrepreneur's stand point, might be misleading then. It seems to me that AngelList is more of a list of potential start-ups for angels than it is a list of potential angels for start-ups. While it can be used either way, to me it seems that the benefit is more for the angel than the start-up looking for funding. Maybe it should be called StartupList?
It worked this way long before angellist. You need some combination of amazing team, traction, or social proof. AngelList features a huge bunch of angels which is a HUGE benefit to the startup. Finding angels is hard. But just because they are all in one "room" doesn't mean that you don't have to impress them in the same way that startups have always needed to impress.
The good news is that once you DO get get something eye-popping (an amazing prototype, a great advisor, a brilliant growth curve), AngelList can be like gasoline on a match-- you close faster and with better terms (at least that's what I've heard from multiple sources).
1. AngelList has a backlog of submission on the investor and startup sides. It may be you just haven't been reviewed yet.
2. Add more info. When you think you have enough, add more. Info on your startup, fill out bios of key people, etc. etc.
2a. Unless you have figured out how to print money, you at some point have to sell something to someone. If you can't put effort into selling yourself on AngelList, that shows investors you are bad at running a business.
2b. See item #1. Someone at AngelList has to review your application and work directly with it. Do you call up customer service and refuse to give your account number? Of course not. You are less likely to get exposure if the employees of AngelList don't have to do a bunch of leg work to complete your app for you.
3. You may just have a horrible idea. As much as AngelList is a service for startups, it is a service for investors as well. It is possible your "Foursquare for Pets" was just marked as hidden.
4. Your AngelList submission is not the template for your final term sheet. List numbers on the low end to drum up interest, and if you have a good idea demand will swing things into your favor.
Edit: I guess there is also the possibility that my company will not be the next Facebook nor does it even aspire to be and because of that, I guess it might not be interesting to investors.