By guest authors Irina Patterson and Candice Arnold This is the third interview in our series on seed financing and angel investing. Today we are talking to Paul Olliver, cofounder and CEO of Wider Wake Networks, Inc. and Steve Stratz, Wider Wake spokesperson. Wider Wake is headquartered in New York City, its member network is
By guest authors Irina Patterson and Candice Arnold Irina: And what do you think angels could do to be more successful? Bob: There’s a couple of things – fantastic question, thank you for asking that. One of the things I think that we can do better is not filter out the companies that we invest
By guest authors Irina Patterson and Candice Arnold Irina: You already told me that for businesses that don’t get invested in, you send them a nice notice and maybe tell them to work on their businesses, right? Bob: Yeah. We actually have a category that we put a lot of businesses into; it’s called mentoring.
By guest authors Irina Patterson and Candice Arnold Irina: As far as the total available market for an idea, do you have any recommendations for that? Bob: Again, total available market, total addressable market, and the amount of market you’re going to capture are all a function of what that return is and how much
By guest authors Irina Patterson and Candice Arnold Irina: What is the typical valuation of the companies you invest in? Bob: Okay. This is my soapbox, and this is what I tell entrepreneurs. This is what I told the guys last night. Valuation is a surrogate for return. If you can empathize with an angel
By guest authors Irina Patterson and Candice Arnold Irina: How many investments have you done in the past 20 months? Well, I guess each member did a different number of investments? Bob: Exactly. I’ve got some numbers at the high level for the group. We average about nine to twelve investments per year as a
By guest authors Irina Patterson and Candice Arnold Irina: And who does the screening? Bob: Pasadena Angel members; they’re actually investors. Our executive director will look at everything that comes in. And, again, if the guy’s in North Carolina – and I’m not trying to pick on North Carolina or North Dakota or North Sasquatch
By guest authors Irina Patterson and Candice Arnold Irina: You’re trying to bring some efficiency to the process, right? Bob: Efficiency is certainly part of it. Effectiveness is another part of it; understanding correlations and causes is another part of it, so yeah, I think all those things go hand in hand. Irina: So, you get