20 February 2013
At Vooza, our main focus is getting funding. We’ve met with all the big VC firms and learned a lot. In this video, we discuss how much cash you need to build a successful app, getting money vs. advice, the problem with constraints, cage-free ideas, Ramen profitability, and vision. We have SO much vision.
>> I mean, focus is getting more funding.
>> I mean, color was an app that was
>> started with $41 million in funding, and that failed.
>> And I think there’s a clear lesson here.
>> You need a lot more than $41 million to build a successful app.
>> There’s an old saying in the investing world.
>> You know, if you’re looking for money, you’ll get advice.
>> If you’re looking for advice, you’ll get money.
>> So let’s just say that here at
>> Vooza, we’re really looking for advice, you know?
>> If you have advice in the bank, so we wanna talk.
>> There’s something about being constrained early
>> on, that it forces you to focus.
>> And we’re not comfortable with that.
>> When you focus you lose sight of the bigger picture.
>> I never focus.
>> Once you build a product you start limiting yourself.
>> And we want the possibilities to be
>> endless, we want our ideas to roam free.
>> Now we want cage free ideas.
>> Money is only the second best thing an investor can bring to the table.
>> First thing they have to bring is the name of a contact in at TechCrunch.
>> When TechCrunch announces that Vooza is getting
>> funding, that’s how we’ll know we’ve made it.
>> I mean look at the companies that
>> get featured, what, what’s their success rate?
>> It’s a group of winners.
>> Well, you’ll hear a lot of companies talk about try to be Ramen profitable.
>> Uh, I mean, I didn’t get an MPA from
>> an Ivy league college, so I could eat Ramen.
>> We know what investors are looking for.
>> Passion, skill, maturity, vision.
>> Yeah, we have so much vision here.
>> We have a lot of vision.
>> Here we’ve met with all the big VC firms, you know.
>> Red Point.
>> Blue Run.
>> Green Fin.
>> Yellow Fever.
>> Union Square Ventures.
>> Google Ventures.
>> Walk Don’t Run By The Ventures.
>> Klein and Perkins, Hold, and Koffield.
>> Diamond, Yauck, and Harvis.
>> Belbiv and Devoe.
>> Benchmark Capital.
>> First Run Capital.
>> State Capital.
>> Uh Lower Case Capital.
>> The Washington Capital.
>> Uh Capital Capital.
>> Uh, Capitol One the credit card.
>> Also the Washington Redskins.