These founders landed early checks by being savvy about social media • TechCrunch
From the first blushThere doesn’t seem to be much in common between the founders who built a coffee brand, a social networking app, and a fintech-focused investment fund. But at TechCrunch Disrupt, the founders together on stage attributed their early success in raising venture capital to their use of social media platforms.
It is an interesting and increasingly necessary element. While one of its founders, Nick Milanovic, who launched a small project focused on financial technology media company And the mutual fund associated with it, both enjoy the kind of profile that venture capitalists tend to notice (Stanford Grad, Google Business Development Experience, white), the checks raised by the other two founders are something of a statistical anomaly.
Gavin Skolnick, founder of the coffee brand cobalt coffee, She is a woman; Just 2.4% of the risk dollars Flooded towards women-led businesses in 2021. For a Black founder like Josh Ogundu, whose app is running campfire Inviting users to create and share 30-second audio stories linked to the photos on their phone, odds of getting a check were Even worse 1.3% in 2021 (for Latinas and black organizations, the chances of receiving project funding in 2021 were closer to zero).
Although Ogundu and Skolnick made the point that going to respected schools and enrolling in branded companies even helped the ballpark (he attended both Michigan State and USC and worked at TikTok; attended UCLA and worked at Tesla, among other courses others), the three suggested that clever use of social media can do more than make it easier to connect with investors and clients — it can keep the founder and his brand relevant and accessible as well.