When Chad Etzel and Paul Stamatiou began to raise additional money for their technology start-up in the fall of 2010, they were preparing for an investment frenzy.
The young entrepreneurs, who had already raised $200,000 for Notifo, their mobile notifications platform for businesses, used their contacts from the start-up incubator Y Combinator, along with the investor matchmaking site AngelList, to arrange nearly 40 meetings with venture capitalists, including some of the best-known investors in Silicon Valley. They set a goal at $300,000, later increasing the number to $500,000.
But their second fund-raising drive was a flop. While Mr. Etzel and Mr. Stamatiou courted dozens of investors via Skype chats, conference calls and in-person meetings, they raised only a small fraction of the intended amount.
To read the full, original article click on this link: Tech Start-Ups Struggle With Followup Fund-Raising - NYTimes.com
Author:KEVIN ROOSE
