January 14, 2014
Prepare yourself, Brad Feld’s started deploying his AngelList syndicate. A few months ago, I wrote about FG Angels. Last week, he’s completed his first investment with that syndicate and deployed $500K into OnTheGo and is aiming for a “2-4 investment per month tempo for Q1.”
In other news, tech angels invested $1.1B in startups during 2013. I expect that number to hold steady or increase through 2014 – we’ll have to wait and see how things turn out between my prediction that investors may lose their appetite for early-stage investing and the fact that syndicates might mean more angel money into fewer deals. If you’re still on the fence about direct angel investing vs joining someone’s syndicate, learn more about ‘capital intensity the the cost of capital for big idea startups‘ so you can avoid the scenario in which you fund a company that may not be able to raise the follow-on capital they’ll ultimately need to generate the large venture-style returns we’re seeking.
Autotrader worth $7B. Call them old school, but selling cars to people is more lucrative than ever. On a side note, can we get a “Hipmunk for rental cars” please?
Steve Stockman (R-TX) and Overstock are now accepting Bitcoin. On it’s first day, Overstock did $126,000 in sales. Oh, you can also book your next trip to space with Bitcoin (though, no word on how many sales they’ve racked up) and Singapore’s laid the ground rules for Bitcoin.
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