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Re: Angel Investors

Kjlawrence63 — Mon, 26 Jan 2009 18:23:37 GMT

Thank you DomainDiva,

We will definitely get that started. That is a great idea. I just need to get in contact with all our users so that they can re-list all their items. I know they want our company to work especially a couple from Ukraine who have their own Art Gallery.

www.mryess.org - They have around 40-50 sculptures and paintings which they want to sell and they're creating more.

Our business plan has also been altered so hopefully we will have more luck.

Kathryn

Re: Angel Investors

DomainDiva — Mon, 26 Jan 2009 15:15:20 GMT

Please check my profile. My biz info is there.

To explain in a nutshell: (hatip IWrite...)

Our application retains aircraft maintenance reocrds. If you have seen tho Whoopie Goldberg movie "the Associate', you may remember that Whoopies character had a 'box' of papers and notes. One day she came to the office and could not find 'the box'. Her assistant showed her how she had put 'the contents of the box' on the computer.

All Whoopis character could say was: "YOU PUT THE BOX ON THE COMPUTER??"

That is what we have done literally. Virtual BOX with information AND visual compliance data on the computer. Our website address is on the profile as well. Our application is all visually managed and we have NO search technology. Yet everything is right there available. Sign in and two clicks to your data.

As bad as business is for everyone...Bluefly needs to move merchandise, trust me they already have a huge markup on this stuff as well, even though are are selling at a discount.

GO FOR IT.

Re: Angel Investors

Kjlawrence63 — Mon, 26 Jan 2009 14:56:37 GMT

I have been to the site once before but that is a very good idea..I will certainly consider it as we have not yet had any luck with finding a angel investor to help us fund our website. Thank you DomainDiva, your help is appreciated.

What is your product if you don't mind me asking and how long did it take you to get your business going?
We can chat in a private email if you would prefer.

Re: Angel Investors

stingrayriley — Mon, 26 Jan 2009 01:05:38 GMT

No Glory I have not Yet .

Re: Angel Investors

DomainDiva — Mon, 26 Jan 2009 00:34:31 GMT

Just a thought here....are you familiar with bluefly.com? Luxury items for sale at discounts. Maybe they would be interested in a partnership with you to help fund your site and take a percentage.

Partnerships for start ups can be great I have partnered with two other firms to get our product going.

Re: Angel Investors

glory.to.God — Sun, 25 Jan 2009 23:31:35 GMT

Have you found any investors for your idea?

Re: Angel Investors

stingrayriley — Wed, 29 Oct 2008 18:59:00 GMT

Kathryn

Nope I have not, had many inquires but nothing solid yet. Then for the most part it is people worried over the market in loom of a possible recession. And not knowing if it worth risking their money in. I know for me I have a car rental venture I have been pushing for months and even has a website and when I see emails in my box for people looking to make reservations it is a hard thing to have to turn away revenue cause of no real investors.or invetor.

Tho I did have a guy already in business looking now to buy a franchise of this company.

Good luck in your search

Happy Venture

Tim Riley

Re: Angel Investors

GrowthCurve — Tue, 14 Oct 2008 03:28:09 GMT

There's no way to put this without sounding arrogant about it, but you're comparing apples to oranges when you discuss your capital formation needs and compare them to eBay.

eBay had already been in business for about two years when Benchmark put in the first $5 million venture capital investment in eBay. I'm willing to wager that the company already had customers, employees, and revenue -- proof of concept -- before the $5 million went in. I'm also willing to wager that there was already a good slug of capital in there from founders and angels. In other words, they didn't go from a business plan to getting $5 million overnight.

Morever, you're discussing a one-in-a-million investment made in the frothy days of 1997, when getting venture capital was a whole lot easier than it is today.

I appreciate and applaud your belief in your business, but I do think that you need to collaborate with someone on the capital formation part...someone who can bring some current market expertise on how these kinds of deals do -- and don't -- get done.

Re: Angel Investors

Kjlawrence63 — Tue, 14 Oct 2008 02:26:23 GMT

Thank you for your input. We have everything set and ready for investment capital, this includes: business plan, milestones, projections, market analysis, etc.

eBay = $6 million investment
Wigix = $5.5 million investment

We have a service in place that will hold transactions as a third party and wait till the Buyers are satisfied with the transaction. Once the Buyer has the item, the money is released. We are looking to protect our clients by putting in these safeguards. So no, it is not sight unseen.

You don't get the business? Really?

eBay can't touch what we have in place and there is no way that I am going to explain to you how on an open forum.

Thank you for your comment anyway.

BTW, Profit = Type-O.

Re: Angel Investors

GrowthCurve — Mon, 13 Oct 2008 22:54:50 GMT

I think you're asking for way too much money for a start-up, and I don't see how you can possibly expect to be in business for this upcoming holiday season.

You need to do a set of financial projections that show various milestones as you grow, indicating how much capital you need at each milestone to move on to the next.

If you are still in the concept stage, then you are probably looking for money just to build the infrastructure to get started. Then you'll look for dollars to start marketing and actually generate revenue (proof of concept). Then you'll look for dollars to grow what you've started. And so on.

You're not getting $4.5 million on Day One. And if you were, you'd be giving up 90+% of the company, as it's highly unlikely (oh, let's just call it impossible) that your valuation will be anywhere near, let alone higher than, $5 million.

I'll be candid...I don't get this business. It's a discount eBay for luxury items? You don't think eBay couldn't just come in and pound you into oblivion? And do you really think that there are that many people willing to sell high priced items online? And buy them? Who buys something for $10,000 online sight unseen? I know it happens, but enough to make a business out of?

Also, if you get 1,000 transactions at $20 each, that's $20,000 in revenue, not profit.