Nivi · April 1st, 2010
Today, we’re announcing that Postling is the second startup to raise money from AngelList. The AngelList investors are:
Dave McClure (Investor in Mint) David Cohen (Investor in Twilio) Thomas Korte (Investor in Heroku) Chris Yeh (Investor in PBworks) Paige Craig (Investor in Plancast) David S. Rose (Investor in Ambient Devices) Thomas McInerney (Investor in Mochi Media)
How did Postling do it?
First, Postling had traction — in fact, they were already charging for their product.
Second, they listened to customer and investor feedback and pivoted into a larger market during their fund raising process. More details about the pivot in this post on GigaOM — Postling’s website doesn’t reflect the pivot yet.
Third, the company was started by two of the founders of Etsy. But they didn’t need that pedigree to raise the round — they could have done it with just their traction and pivot.
Update: Read Postling’s story, in their own words: The inside story on how I raised $200k in 6 days.
AngelList is growing quickly
There are now 75 angels on AngelList and we’re adding 1-2 new angels a day like Mike Maples, Ram Shriram, and Aydin Senkut. You can track the day-to-day minutiae of these angel’s lives with the AngelList Twitter list: