Sramana Mitra: What else is interesting in your structure that is worth discussing that I have not discussed with you yet? Utsav Somani: I think you’ve pretty much covered everything. There are some really good companies coming out of India. Sramana Mitra: Can you talk about them? Utsav Somani: It’s too early to be disclosing
Sramana Mitra: What direction does the deal flow? Is it the VC’s who are coming to AngelList, or AngelList is chasing these deals? Utsav Somani: We are the largest tech-enabled cloud platform in the world. We are more of a product company than a service company. Our product are the syndicate products. You go do
Sramana Mitra: I’m going to double-click down on a bunch of points you made. You said the angel networks like Mumbai Angels work like glorified VC funds versus AngelList. Elaborate and contrast the fee structures. Utsav Somani: Everyone is structured in a different way. They help different people. The offline angel networks are places where
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Utsav Somani was recorded in May 2018. Utsav Somani, Angel Investor at AngelList India, talks about the newly launched AngelList India. Sramana Mitra: Tell us about the investing focus of AngelList in
Sramana Mitra: You talked about working with a syndicate on AngelList. Did 500 Startups introduce you to the AngelList syndicates personally, or did you do that cold? Zvi Band: We did a very good job of building relationships with our customers. One of our customers said, “Hey, I actually know someone who’s a part of
Sramana Mitra: Let me get a couple of specifics there. What was the price point that you settled on? Zvi Band: We’ve continually changed our prices. When we first launched, we charged $10 a month. By the beginning of 2014, we charged $20 and $40 a month. Sramana Mitra: What does that mean? Zvi Band: We had
Sramana Mitra: When you went to 500 Startups to raise money, what did you have in place? Of all these things that we talked about, how much of this is in place? Zvi Band: We had a prototype and we had around 100 active users. 500 Startups saw that there is a big market here. We
Sramana Mitra: So, in general, the investors are paying; the entrepreneurs are getting it free. David Rose: Right now, such as it is, yes. Although the large returns will come in the future from premium services that will be added in. SM: You’re going to have premium services on both sides? Both the entrepreneurs and