Today’s 595th FREE online 1Mby1M Roundtable for Entrepreneurs is starting in 30 minutes, on Thursday, November 3, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. CLICK HERE to join. PASSWORD: startup All are welcome!
Earlier last week, Facebook (Nasdaq: META) announced its third quarter results that continued to disappoint the market. Facebook’s plans to continue to invest heavily in the development of its Metaverse are not being appreciated by the investors. The stock is trading at 52-week low levels.
>>>Sramana Mitra: How many companies are raising funds on your platform right now?
Rebecca Kacaba: Between 30 and 40 new companies every month and over $1.6 billion in capital transacted through the platform.
Sramana Mitra: Are there any stage and sector trends?
Rebecca Kacaba: Usually, we’ll see a good amount of technology, real estate, and anything that’s going the Wall Street trend. Food tech is an interesting emerging space.
>>>If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.
We’re big fans of bootstrapping, virtual companies, and domain knowledge. Field Pros Direct Founder CEO Matt Anderson’s story from 2020 has all these ingredients.
Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born and raised? What kind of background did you have?
Matt Anderson: I’m from a small town northeast of Tennessee called Rogersville. It’s a rural area in the foothills of the Smokies. It’s very beautiful there. I went to East Tennessee State University. I had an aspiration to play football. That’s what drew me to that college. I grew up in that rural town and went on to East Tennessee State.
Big tech is struggling to maintain the optimism in the market as is evident in the recent quarterly results. Alphabet, Google’s (Nasdaq: GOOG) parent, recently reported its third quarter results that failed to impress the market and sent the stock tumbling.
>>>Sramana Mitra: What is your business model?
Rebecca Kacaba: We charge technology fees – setup, monthly, and transactional. We are very aligned with our clients. They can pay as they raise capital. We’re not asking them for a big upfront payment. We make money as they make money.
Sramana Mitra: You take a percentage of the transaction?
Rebecca Kacaba: Yes, under our broker-dealer model. In other ways, they pay after they close capital.
>>>Sramana Mitra: Given your vantage point, what open problems do you see out there? Not just ones you are working on but things that other entrepreneurs can work on.
Sankaet Pathak: There are a couple of problems that are infrastructure-focused. Then there is one thing that is more consumer-focused that I feel somebody should work on. On the infrastructure side, getting really good at risk and credit underwriting at a global scale is an open opportunity. Nobody is doing a phenomenal job on that.
>>>Heather Hiles is the Founder and Managing Partner at Imminent Equity and a pioneering entrepreneur in the Black community. Heather also has deep experience in financing Black entrepreneurs, as well as on the education side to close knowledge gaps at scale.
Sramana Mitra: Let’s get you acquainted with our audience. Tell us about you and the tracks you have traveled to get to where you are today. Tell us about what you’re working on at Imminent. What is your investment focus?
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