Fun story on why each founder ought to ship a month-to-month investor replace, even should you don’t have any buyers but: A companion at Lightspeed had been making an attempt to fulfill me for months. He was continuously in my… | Tyler Denk 🐝

Fun story on why each founder ought to ship a month-to-month investor replace, even should you don’t have any buyers but:

A companion at Lightspeed had been making an attempt to fulfill me for months. He was continuously in my DMs / e-mail however I ignored all the pieces (too busy constructing).

He ultimately tricked me right into a founders dinner in LA and provided to sit down me subsequent to Jessica Alba (she nonetheless hasn’t replied to my DM btw).

After that dinner, I added him to my month-to-month investor replace listing. He acquired the identical month-to-month updates about beehiiv (wins / failures / metrics / technique) as everybody else.

Four months later, I made a decision to boost.

> emailed him on a Saturday morning
> signed a time period sheet the next Friday

Thanks to the updates, he already knew all the pieces there was to know concerning the enterprise.

The outcome: a $12.5M Series A in lower than per week. I by no means even made a pitch deck.

If you’re questioning whether or not you must write investor updates (you must), I’m going into far more element on how I do it right here:

p.s. Here’s one in every of my favourite pictures from the archives. After we signed the time period sheet, my cofounders flew out to LA only for this photoshoot. We wanted a pic for the Series A announcement however didn’t have any bc we’re all distant.