As I had mentioned previously, I’m starting my discovery process of raising some Angel/Venture Capital for Pressgram. I believe there’s an incredible opportunity for this app to grow into the movement we all believe that it can be and I’m going to need more funds to keep this puppy going.
You might be thinking, Why do you need more money – didn’t fund it via Kickstarter?! and the answer is pretty straight-forward: Yes, Kickstarter has helped me get this off the ground but it won’t keep the app going unless I’m able to find more money for the increased needs that I list below.
AngelList is one of the better and more well-known spots to get some attention, get introductions, and such. So I spent some time this week hacking it together – it’s not 100% complete but it’s complete enough to go public and to start sharing – there’s still a bunch of stuff to add and do though.
My biggest needs for raising money is quite simple:
- Server and Data Costs – I anticipate some serious costs to manage the data that could start flowing fairly liberally. I have already done decent testing and cost-scaling scenarios and if the app receives a good amount of attention that it will suck my personal bank account dry.
- Talent – I may need to build a team sooner rather than later including an amazing designer and serious iOS engineer.
- Other – There are many other costs associated with evolving an app into a business and I’ll need coverage there as well.
Feel free to pass this on and share it with others – and if you know anyone who wants to be a part of something really cool then connect me with them!