Shameless crowdfunding plug

[Galaxy]

I've been working on a mobile-centric, social media and networking start-up concept, and have finally put together a crowdfunding campaign to raise the seed capital. I figure I would share it with the FOFC crowd.


Do you want ticks? | RocketHub

[DaddyTorgo]

There's a typo in your description - it says "his tracheostomy" and i presume you mean "this"

[Galaxy]

Originally Posted by DaddyTorgo

There's a typo in your description - it says "his tracheostomy" and i presume you mean "this"

Thanks, DT...I actually re-worded it.

[DaddyTorgo]

Originally Posted by Galaxy

Thanks, DT...I actually re-worded it.

No prob.

I love the idea from a quick glance - will have to look deeper later and back.

[Galaxy]

Originally Posted by DaddyTorgo

No prob.

I love the idea from a quick glance - will have to look deeper later and back.

Thanks, DT. If you have any questions, don't hesitate to ask.

The tough part of this campaign was doing the video. Trying to find a way to sell the idea of the concept, and more importantly, myself, but to do it on a very limited budget and within the 90 second time frame. Not to mention the challenges imposed by my speech, and shall I say, physical differences.

[DaddyTorgo]

So why RocketHub versus say Kickstarter? Because it's less a product and more a company, or what?

[DaddyTorgo]

Hey Galaxy - what color were you thinking for the background of the app/the buttons? Any thoughts?

[CU Tiger]

Dude...If I give 5k I don't want you to throw me out of an airplane!!!

LOl
Good Luck....seems interesting

[Galaxy]

Originally Posted by CU Tiger

Dude...If I give 5k I don't want you to throw me out of an airplane!!!

LOl
Good Luck....seems interesting

If you give me $5k, we can do whatever you want, well, almost anything.

Thanks. To be honest, I think I need to make some on-the-fly adjustments to the visual presentation side a bit. My gut instinct didn't quite override some of the advice I got during the process.

[CraigSca]

Checked it out - but I feel a little odd about giving money to a start-up, even if the goal isn't reached.

[MacroGuru]

Crowdfunding to me is the new era of angel investing.

Your satisfaction comes from watching a company start with your help. Is Galaxy going to take that 15K and turn it into millions right off the bat. This isn't the mid and late 90's where he could do it almost matter of factly. It's going to take hard work, effort and a lot of marketing to get noticed and get the app out there.

I have read his business plan, spoken with him at length over the past couple of years in regards to this. Referred him to a couple of friends of mine that have started companies in the incubator at SUNY Fredonia and they have all said the same thing.

"This is a great idea and we need to assist in getting it off the ground."

In fact, I have had a couple of invites to early launch events for some apps that are almost like this. I think the market is trying to get there, but hasn't hit the home run yet.

Mike knows I am on board, I will be funding on Thurs.

[Galaxy]

Originally Posted by CraigSca

Checked it out - but I feel a little odd about giving money to a start-up, even if the goal isn't reached.

Craig, I appreciate your honesty. I actually had mixed feelings and a lot of discussions when I first started to think about this route. As Macro said, crowdfunding seems to have replaced the new angel investment market, especially if you're not in a Silicon Valley or New York City market. Angels still invest, but they don't invest like the more risk-tolerant angel investment community used to, and if you're not in an area where angels understand your industry and market, it's tough. Macro will attest to the lack of enough risk-taking deep pockets in our area, especially for consumer technology. Another thing is the lending community is also very tight these days for the non-tech businesses. So, you're kind of stuck in this catch-22 funding rut.

Crowdfunding-at least on the internet-is still a relatively new platform, and I think everyone is still trying to figure it out in terms of what it's suppose to represent and what it's suppose to be about. A lot of advice and criticism goes around about it in terms of who, when, and how crowdfunding should work. How should the video look and how should it be focused? What stage should you fund your idea at? Who should do it? (By this last part, I point to the recent criticism-despite their highly successful campaigns-that has been directed at the Amanda Palmers, Zack Braffs, and Rob Thomases of Veronica Mars of the crowdfunding world.) All of these questions are catch-22s. Now, it seems like you have these bigger, more polished people and companies coming to the platform, and it's a bit confusing. It really is fickle, and quite honestly, still a tough road map to navigate at this point in trying to figure out how and when to pitch your ideas.

[DaddyTorgo]

Originally Posted by CraigSca

Checked it out - but I feel a little odd about giving money to a start-up, even if the goal isn't reached.

It is a change, different from some other platforms. If you look at it as "angel investing" it makes more sense though, rather than as like "kickstarting" to get some sort of end-product.

This isn't something that Mike is going to abandon - this is his baby and he's going to be a hungry entrepreneur and get it going, he's just looking for a little initial capital to make it possible. I have a feeling that however he has to go about scrapping and clawing he'll raise the money he needs to do it and he'll see it through.

[BYU 14]

Definitely an interesting concept, going to look at it in a little more detail later and will likely be on board as well.

Best of luck Mike.

[Galaxy]

Originally Posted by BYU 14

Definitely an interesting concept, going to look at it in a little more detail later and will likely be on board as well.

Best of luck Mike.

Thanks! DT kindly did some work on the sketches/mockups for me-they look great- so I'll be uploading those up once I convert them into the right files.

[DaddyTorgo]

Originally Posted by Galaxy

Thanks! DT kindly did some work on the sketches/mockups for me-they look great- so I'll be uploading those up once I convert them into the right files.

Sent the split-up files your way Galaxy. Gotta head out for the rest of the day, back later.

[Young Drachma]

Originally Posted by MacroGuru

Crowdfunding to me is the new era of angel investing.

Your satisfaction comes from watching a company start with your help. Is Galaxy going to take that 15K and turn it into millions right off the bat. This isn't the mid and late 90's where he could do it almost matter of factly. It's going to take hard work, effort and a lot of marketing to get noticed and get the app out there.

I don't think so, man. Kickstarting is like being a "micropayment patron of the arts" (not my term, but I liked it..so I borrowed it) and angel investment is "ballers who can afford to make equity investments hoping to payoff, but realizing that they might not," and so...if there's no return in the form of something, then it's just akin to some kind of "bootstrapping with friends ". (or strangers in this case)

Which is fine, but...they're just not the same thing at all. Angel investing isn't about feel-good altruism, it's about getting paid the fuck back in spades. Doesn't always happen, but...let's not conflate supporting your favorite comic book artist with individuals with actual salary jobs thinking they're playing Y Combinator during their lunch hour.

But not throwing hate on this particular effort, I wish it all of the best. I was just quibbling with this notion about "angel investments" and this feel good idea when well..this isn't exactly the audience for that.

[Galaxy]

Originally Posted by Young Drachma

I don't think so, man. Kickstarting is like being a "micropayment patron of the arts" (not my term, but I liked it..so I borrowed it) and angel investment is "ballers who can afford to make equity investments hoping to payoff, but realizing that they might not," and so...if there's no return in the form of something, then it's just akin to some kind of "bootstrapping with friends ". (or strangers in this case)

Which is fine, but...they're just not the same thing at all. Angel investing isn't about feel-good altruism, it's about getting paid the fuck back in spades. Doesn't always happen, but...let's not conflate supporting your favorite comic book artist with individuals with actual salary jobs thinking they're playing Y Combinator during their lunch hour.

But not throwing hate on this particular effort, I wish it all of the best. I was just quibbling with this notion about "angel investments" and this feel good idea when well..this isn't exactly the audience for that.

I would say it's more akin to "family and friends" funding than the traditional angel investor process. I think the point, and I don't want to speak for Macro, is that it's what it represents in terms of what the funding through these outlets will do-provide seed capital, branding, and get/test the idea/concept out in the public eye. As I noted before, angel investors these days don't usually invest at this point unless you have a proven track record already and/or are well connected. Angel investment used to be more willing to invest in risks and true seed funding, but that's not the case anymore.

It's interesting how Kickstarter has moved to being all-encompassing these days from its beginnings as being an outlet for fledgling artists, musicians, ect. Crowdfunding in various forms has been around forever, but now the internet has changed the dynamics of it.

An interesting side note: did you know Airbnb-one of the hottest tech-oriented companies right now-drove to the Democratic Convention in 2008 and sold custom-made boxes of Obama cereals? I believe they had raised $30,000 or so from 500 boxes, which helped them keep their operation afloat.

[CraigSca]

Originally Posted by DaddyTorgo

It is a change, different from some other platforms. If you look at it as "angel investing" it makes more sense though, rather than as like "kickstarting" to get some sort of end-product.

This isn't something that Mike is going to abandon - this is his baby and he's going to be a hungry entrepreneur and get it going, he's just looking for a little initial capital to make it possible. I have a feeling that however he has to go about scrapping and clawing he'll raise the money he needs to do it and he'll see it through.

Yeah, I understand the concept, and I don't doubt Mike's going to take it and run with it. Being new to this process, I just didn't understand the, "if it's not fully funded, you don't get your money back" as with kickstarter.

I participated in the kickstarter for Jim's football card game project, figuring it was worthwhile, and if it gets funded, I will get a nice game to fool around with. If it doesn't get fully sourced, well, no harm no foul. The weird thing about this other process is - let's say Mike needs $15K to get this off the ground (as he has posted). If I chip in $100, but he only gets (arbitrary figure here) $500 total, my money is gone. Yes, I understand Mike is a little different, because I "know" him (in a way, because we've never met, had a conversation, etc.) But let's say I see a project where someone needs $15k, he/she received $500 - who or what is to say that project itself isn't totally abandoned and that person just pockets the money?

Again, I'm not throwing Mike in that bucket - I'm a kickstarting noob here - so I've only seen the kickstarter model where, if full funding doesn't take place, there is no risk to the investor.

[DaddyTorgo]

Originally Posted by CraigSca

Yeah, I understand the concept, and I don't doubt Mike's going to take it and run with it. Being new to this process, I just didn't understand the, "if it's not fully funded, you don't get your money back" as with kickstarter.

I participated in the kickstarter for Jim's football card game project, figuring it was worthwhile, and if it gets funded, I will get a nice game to fool around with. If it doesn't get fully sourced, well, no harm no foul. The weird thing about this other process is - let's say Mike needs $15K to get this off the ground (as he has posted). If I chip in $100, but he only gets (arbitrary figure here) $500 total, my money is gone. Yes, I understand Mike is a little different, because I "know" him (in a way, because we've never met, had a conversation, etc.) But let's say I see a project where someone needs $15k, he/she received $500 - who or what is to say that project itself isn't totally abandoned and that person just pockets the money?

Again, I'm not throwing Mike in that bucket - I'm a kickstarting noob here - so I've only seen the kickstarter model where, if full funding doesn't take place, there is no risk to the investor.

I see your point, and it's definitely understandable. I think that's why it's a tougher sell in that sense for a "random person" unless you as the person funding (a) have a real strong desire to see the company/product get launched (b) find some of the rewards attractive AND at the same time have a strong belief that in some sense, regardless of whether or not the amount asked for gets raised, the product/company will get launched.

I mean take a look at Mike's for example. $100 gets you an AVtick fleece, plus a pint glass. Now what's retail on a fleece? $50? And a pint glass with a logo on it maybe $10? Okay so you're maybe tossing in $40 on top of that in order to see this company/product get off the ground. If you look at what it would do and you think that having that product out there is worth some fraction of $40 (or more) then you're further reducing the amount that you're in essence...overpaying for the stuff.

Not sure if you can edit rewards Mike, but as I start through your business plan, what about at some reward-level, offering free/reduced cost premium access to backers (for longer messages) for a limited amount of time? Or would that crimp the potential revenue stream of the business too much at a tight time?

[MacroGuru]

Originally Posted by Galaxy

I would say it's more akin to "family and friends" funding than the traditional angel investor process. I think the point, and I don't want to speak for Macro, is that it's what it represents in terms of what the funding through these outlets will do-provide seed capital, branding, and get/test the idea/concept out in the public eye. As I noted before, angel investors these days don't usually invest at this point unless you have a proven track record already and/or are well connected. Angel investment used to be more willing to invest in risks and true seed funding, but that's not the case anymore.

It's interesting how Kickstarter has moved to being all-encompassing these days from its beginnings as being an outlet for fledgling artists, musicians, ect. Crowdfunding in various forms has been around forever, but now the internet has changed the dynamics of it.

An interesting side note: did you know Airbnb-one of the hottest tech-oriented companies right now-drove to the Democratic Convention in 2008 and sold custom-made boxes of Obama cereals? I believe they had raised $30,000 or so from 500 boxes, which helped them keep their operation afloat.

This. When I started my company here in Buffalo we had Angel investors come in and run the show. So I do understand where YD was going with his statement and I know where Mike is going with his my point was just:

Crowdfunding can be seen multiple ways. As someone who has had his ass kicked by Angel Investors and a VC company I look at crowdfunding as a way for someone to come into the market, feel responsible to people who have proven themselves as either 1) A customer or 2)Someone who genuinely wants to see a good idea succeed and not have the stress of an Angel or VC breathing down your neck.

Now not everything will fund, not everything will succeed and Kickstarter and the others know that, but to me this is a lot like Kiva but with a flipside, if they have funding rewards....I am getting something for my $.

[DaddyTorgo]

Originally Posted by MacroGuru

This. When I started my company here in Buffalo we had Angel investors come in and run the show. So I do understand where YD was going with his statement and I know where Mike is going with his my point was just:

Crowdfunding can be seen multiple ways. As someone who has had his ass kicked by Angel Investors and a VC company I look at crowdfunding as a way for someone to come into the market, feel responsible to people who have proven themselves as either 1) A customer or 2)Someone who genuinely wants to see a good idea succeed and not have the stress of an Angel or VC breathing down your neck.

Now not everything will fund, not everything will succeed and Kickstarter and the others know that, but to me this is a lot like Kiva but with a flipside, if they have funding rewards....I am getting something for my $.

Yup!

[Galaxy]

Originally Posted by MacroGuru

This. When I started my company here in Buffalo we had Angel investors come in and run the show. So I do understand where YD was going with his statement and I know where Mike is going with his my point was just:

Crowdfunding can be seen multiple ways. As someone who has had his ass kicked by Angel Investors and a VC company I look at crowdfunding as a way for someone to come into the market, feel responsible to people who have proven themselves as either 1) A customer or 2)Someone who genuinely wants to see a good idea succeed and not have the stress of an Angel or VC breathing down your neck.

Now not everything will fund, not everything will succeed and Kickstarter and the others know that, but to me this is a lot like Kiva but with a flipside, if they have funding rewards....I am getting something for my $.

Just to add, raising outside capital for equity requires investors to be accredited by the S.E.C. For someone to be an angel investor, you have to have I believe a minimum worth of $1 million (excluding your primary residence) and or (can't remember if it's both or either) $200,000+ in income over the last two years. Any other outside investment-including your family and friends-will cause problems.

Now, even if you have a $1-$3 million in assets, it really isn't that much in terms of allowing you to make the required gambles in companies, and enough of them on a grand scale. The JOBS Act is suppose to change the dynamics of raising capital, and allow companies to sell equity through a whole new phase of crowdfunding.

[Galaxy]

Originally Posted by CraigSca

Yeah, I understand the concept, and I don't doubt Mike's going to take it and run with it. Being new to this process, I just didn't understand the, "if it's not fully funded, you don't get your money back" as with kickstarter.

I participated in the kickstarter for Jim's football card game project, figuring it was worthwhile, and if it gets funded, I will get a nice game to fool around with. If it doesn't get fully sourced, well, no harm no foul. The weird thing about this other process is - let's say Mike needs $15K to get this off the ground (as he has posted). If I chip in $100, but he only gets (arbitrary figure here) $500 total, my money is gone. Yes, I understand Mike is a little different, because I "know" him (in a way, because we've never met, had a conversation, etc.) But let's say I see a project where someone needs $15k, he/she received $500 - who or what is to say that project itself isn't totally abandoned and that person just pockets the money?

Again, I'm not throwing Mike in that bucket - I'm a kickstarting noob here - so I've only seen the kickstarter model where, if full funding doesn't take place, there is no risk to the investor.

Craig, I completely understand your concerns, and one of the things I certainly debated. One of the problems with Kickstarter is they are rather selective-thought inconsistent-on who they let in, and they don't support "for-profit" ventures, which is one of the strangest things I've read. Quite honestly, I think the "all-or-nothing" approach might be better for the reasons you mentioned.

[DaddyTorgo]

We're going to get you funding Mike - it's just a question of how.

Never asked - who's going to do the actual coding of the app? Not you right? So somebody you hire?

[Galaxy]

Originally Posted by DaddyTorgo

We're going to get you funding Mike - it's just a question of how.

Never asked - who's going to do the actual coding of the app? Not you right? So somebody you hire?

Thanks.

For the initial iteration, it will be a development firm that I've screened and had discussions with-and one we talked about last night. It's outlined in the business plan you looked over.

[DaddyTorgo]

Originally Posted by Galaxy

Thanks.

For the initial iteration, it will be a development firm that I've screened and had discussions with-and one we talked about last night. It's outlined in the business plan you looked over.

Aaaah - duh. I must have missed that detail -- probably since I was reading it on the exercise bike and sweating my ass off.

Gotcha.

[CraigSca]

What the hey - I'll be the first one on my block with an AvTick pint glass!

[DaddyTorgo]

Originally Posted by CraigSca

What the hey - I'll be the first one on my block with an AvTick pint glass!

Me too!

In all seriousness - I think it's a really great idea. Like I was saying to Mike -- I would love an app like this so that I can record a "Happy Birthday" for my little nieces say, without having to catch them on the phone because my sister is usually too busy to answer it. Or where they could leave one for me and I could access it whenever I want to smile. And that's just the one example that springs immediately to mind -- I think there's a whole host of times when what I'm saying on facebook would be much better communicated verbally (and I'm not even much of a verbal person).

[Galaxy]

Originally Posted by CraigSca

What the hey - I'll be the first one on my block with an AvTick pint glass!

AvTick? These aren't going to be Chinese knockoffs.

[CraigSca]

Oops - yeah, noticed I flipped around the capitalization on that one. Now I've screwed up your branding

[CU Tiger]

Originally Posted by DaddyTorgo

Me too!

In all seriousness - I think it's a really great idea. Like I was saying to Mike -- I would love an app like this so that I can record a "Happy Birthday" for my little nieces say, without having to catch them on the phone because my sister is usually too busy to answer it. Or where they could leave one for me and I could access it whenever I want to smile. And that's just the one example that springs immediately to mind -- I think there's a whole host of times when what I'm saying on facebook would be much better communicated verbally (and I'm not even much of a verbal person).

Sorry, I haven't checked out the site in a such detail as I want, but I plan on chipping in some.

My question is, based on your description, what separates this from Voxer with vid?

[Galaxy]

CU, thanks for the question. I'm not sure what you mean by the "with vid," (do you mean, Viddy, the social video platform?) part, but Voxer is more of a live-based walkie talkie application, where this concept is an open (well, as open as you want it to be), voice-based, social experience.

*If you want (or anyone else for that matter) shoot me an e-mail and I will be glad to breakdown the concept, business model, ect. in deeper detail. I actually appreciate what you've achieved in own business life, so it's certainly worth hearing from those who have been down that journey when it comes to the business world.

[lighthousekeeper]

um...so am i totally confused here or is galaxy now a gazillionaire?

Crowdfunding Platform RocketHub Acquired for $15 Million

[stevew]

His company is not RocketHUb I believe. It's avtick

[lighthousekeeper]

ok - i'm an idiot.