Match Capital Focus: The Startup Magazine
Yoav Farbey is the founder of The Startup Magazine, a publication dedicated to startups, innovation and technology, who have announced their launch on mobile and tablet. After being a web-only publication offering free content for just over two years, they have now introduced a paid subscription service, providing a monthly magazine on mobile and tablet.
Match Capital have partnered with the Startup Magazine to give Match Capital’s community 20% discount on the Startup Magazine subscription by using the code MATCH.
MC: What’s your elevator pitch?
YF: The Startup Magazine is a new publication committed to providing insightful, thought provoking editorial content about about startups, technology and innovation. The magazine is available on the web and for mobile and tablet.
MC: When did you know you were ready to ask for investment?
YF: We have worked with two business mentors, who are advisers to the business to help us be “investment ready”. We have the opportunity to grow rapidly in the US after growing our presence and community in the UK. We are going to capitalise on this by raising capital from crowdfunding. Being investment ready is having our pitch well rehearsed, and having our pitch deck in order.
MC: Have you raised anything so far and how did you achieve that?
YF: So far we have been self-funded at this stage.
MC: What documentation have you been sending to investors?
YF: Three things:
- Seedrs draft application.
- Financial projection summary.
- Shortened business plan.
MC: How many of your top matches have you contacted?
YF: At this moment in time, not many, as we are early in our investment journey. We are not looking for VC scale money, but talking to VC and Angel investors is something that is very valuable for us.
MC: What common questions have you been asked by VCs/investors?
YF: “What makes the startup magazine special” – We cater to our audience of early stage entrepreneurs hungry for more than just skin-deep analysis. The magazine articles are longer, deeper and packaged in an engaging design.
MC: In your opinion, what are the “no-nos” worth bearing in mind when talking to investors?
YF: Don’t be underprepared. Always prepare for the meeting, research the investors you are going to be speaking to. Read post which they write, listen to podcast they appear on, what are their most recent investments? You should also be prepared for question during your pitch, practice being interrupted while pitching.
MC: What’s the biggest challenge you’ve faced along the way?
YF: The constant challenge of managing time, as a founder, there are not enough hours in the day to do what you need to do.The only way to cope with the challenge is to constantly use a prioritised task list.
MC: Have you got any advice for any subscribers who are preparing for an investor meeting?
YF: Apart from preparation, is learn how to storytell, in order to tell your story. Investors are human after all, you are able to tell them your story of why you are doing what you do. A well told story can also help you articulate the problem you are solving and how you are solving the problem.