It was April Fool’s Day, 2011.
Matthew Bellows walked into a board meeting for his startup, Yesware. In the room were Brad Feld and Rich Miner, prominent venture capitalists from Foundry Group and Google Ventures, respectively, who had just led seed investments in Yesware.
Bellows, the startup’s CEO, had previously started WGR Media and sold it to CNET in 2004. He was an experienced entrepreneur and manager. But he had talked to 45 different investors about Yesware, an e-mail software startup, and found seed money surprisingly hard to come by. He was thinking the meeting would be a victory lap with his new investors. He was wrong.
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