Doug Scott, loud mouth Geordie entrepreneur living in the Midlands.

That Sherman Lee ( Good Audience, Rocco ) bloke asked me again to invest

That Sherman Lee bloke asked me again to invest

Can you believe it?

Remember Sherman:

The guy from San Fran who came to London and asked me to invest and then wrote a blog about how it all went wrong




Who I then replied with this:

My responce

Well seems like he wants some more money and has asked me again………what do people think of that then??

Founders have a gall don’t they.

Wow who would wanted to be an investor?? :):)



AIM Creates Method for UK Early Stage Investors to Cash Out

AIM Creates Method for UK Early Stage Investors to Cash Out

One of the biggest issue that early stage investors moan about is how long they will have to wait to get any money back….typically 10 years plus, assuming they do well. As companies stay private globally longer and longer then early stage investors have to wait longer and longer…I wrote about this recently:

Are Angel Investors in the UK Becoming Disillusioned?

Well AIM has recently listed Freeagent, this is a startup who is doing ok…ok being a relative term in VC world, they are growing at 30% per annum. Probably not fast enough growth for many VC’s, but none the less a nice growing company. The company wanted more cash to grow faster and have risen £10 million on AIM. There are 2 interesting parts about this:

  • By listing on AIM they have allowed many more investors and investor types to back the company.
  • But the real interesting part is that they have now allowed early stage investors to be able to trade shares in what would have been a private company. Hence creating a sort of liquidity event

Cheers to Robin for pointing this out:



YCombinator and the Greatest Trick Ever Pulled

YCombinator and the Greatest Trick Ever Pulled

Y Combinator originally invested in 40 or so new startups a year, mostly from Stanford University. Investments were small ($5,000 + $5,000/founder) in exchange for around 6% of equity.

The greatest trick the devil ever pulled was convincing the world he didn’t exist.



To see in retrospect seems crooked or genius:)



I want to Win for fun:):):) Please Vote for Me:) BoatyMcBoatface

I want to Win for fun :):):) Please Vote for Me:)BoatyMcBoatface


Just for fun i wanted to help Mike promote the Europas and thought it funny if i won at the same time :)

Take the survey

Question 19 is the only one that matters:):) haha

Wouldn’t it just be so funny if someone who had never invested in anything till 3 years ago, did not go to the right school,  knew no one in the industry and was even openly critical about how the system is broken actually won an investor award:):)

Maybe this vote will not be a true count for the winner ………….or maybe BoatyMcBoatface:)




Why I cringe when you say you’re raising a $1.5m seed round…

This is reposted from here as I see this all day:

Why I cringe when you say you’re raising a $1.5m seed round…

“We’re raising $1.5m.”

I cringe.  There’s nothing inherently wrong with raising $1.5m…UNLESS you have not thought about your raise strategically (99.9% of entrepreneurs I meet with).


Originally posted by drunkbroadway

Most entrepreneurs understand on some level that fundraising is all about messaging.  But, most people only think about this in the context of storytelling.  But, messaging how much you are raising and for what specific milestones are equally important.

Let me give you a concrete example.  Here’s a tale of two companies.  Same business but different raise-amounts.

Company A:
-Raised a seed round of $500k
-Now raising another seed round of $2.5m to expand the business

Company B:
-Raised a seed round of $2m
-Now raising another seed round of $1m to expand the business

Should both companies successfully raise, they would’ve raised the same total amount of seed money – $3m.

BUT, Company B’s situation yells RED FLAGS all over the place.  As an outsider, it sounds like they burned through a hefty $2m and now are short of Series A milestones that they need another $1m to bridge them through.  And, no investor wants to sign up for a desperate situation like that.


Originally posted by cumayagittikgelecegiz

Company A’s situation sounds much more appealing.  They raised a small seed round – perhaps to get them to some initial milestones, flesh out the idea, get some initial customers.  And, now, they are ready to grow based on what they’ve learned.

Notice we know nothing about these businesses, but I’m already making assumptions about their scenarios.  Why?  Because this is commonly what you see in the trenches as an investor.  And even if Company B is truly growing quickly and is only just a couple of months away from gearing up for a strong Series A, I know lots of VCs who won’t even take a meeting with Company B to hear them out.  That’s just how it is.  Just poor messaging.

As an entrepreneur at the seed level, you need to think deeply about the signaling (and what to do) if you are not able to hit milestones for the next round.  If you are planning on raising $1m-$2m on this round, you had better hit your Series A targets (or get to profitability on this round).  In fact, I call $1m-$2m raises “No (wo)man’s zone”.  You should consider what happens if you fall short of Series A targets, because you will have a super tough time raising from external investors.  Do you ask your current investors to re-up?  Can they?  Can you bootstrap to Series A milestones?  Think about all this BEFORE you end up in a tough situation.

Seasoned entrepreneurs, you should be especially cautious.  As an experienced entrepreneur, the natural inclination is to think, “Oh I can totally hit any milestone – I’ve done this before.  No problem.”  I know – because I’m that person too and think that way too.  But, in my short time as a VC (just 1 year), I’ve seen multiple companies whom I met with at the beginning of my VC career already go out of business or take a terrible acquisition (or are about to), because they didn’t raise enough money but they raised too much to get them another seed round.  In fact, many of them had businesses that were just beginning to take off, but because of poor fundraising strategy, their companies went under.  They could’ve been amazing businesses.


Originally posted by sizvideos

Additional things to consider:

  • Series A milestones go up ALL the time and are only going up – for example, I met with several B2B SaaS companies a year ago who were able to hit $1m runrate within a year on fast growth but died / were acquired for cheap because Series A milestones were higher than they had expected.
  • Spaces become competitive – when many companies enter a space, investors get very nervous about whether they are backing the right horse; so, you must show above-and-beyond traction to suggest you are the winner; it’s not just about hitting milestones if you’re in a competitive space

So, if you’re super early – i.e. still building product, very much pre product-market fit, don’t have a handle on your unit metrics, don’t know your customer persona inside and out, etc, you should strongly consider raising a smaller round (say < $1m) such that your next milestone is to hit post-seed milestones rather than a series A milestones.  Be strategic and message your raise well.

Corneliu Chiriac came to Lichfield:)

Corneliu Chiriac  came to Lichfield:)

Very smart and lovely angel investor came to Lichfield to see the fun we do…..think he thought it was funny:):) Sure we will do stuff together:):)

This is not what he looks like but this guys has the same name


Thanks Corneliu


Kerry Ritz – Angel Investor is in the building

Kerry Ritz is in the building

Let us see what he knows about this internet stuff:):) Kerry has decided to come and visit us and see what we really do and how we do a few million people per day to sites we own



Maybe I should start writing reviews about people who come to see us and score them:)

Kerry can be first maybe???


Some Other crap about Kerry:

CMO Euromoney

CEO Palringo

President Vonage

Director of Customer Strategy at 3 ( Three )




Simon Bichara – Angel Investor

Simon Bichara – Angel Investor

Simon is the King of Bichara Land


In Bichara Land everyone thinks they are free and has a vote and they are all free and have a vote as long as the King of Bichara Land is Simon. Here is the latest picture I could find on Simon:


I am sure I have seen this guy before on TV but I can’t think when. Anyway when ever I searched for Simon in Google the above pictures were all I could find:)

Simon is also quite domesticated and loves cooking and I would imagine cleaning judging by the nice outfit he is wearing above


Ps Some of the above is untrue:)

simon bichara

Simon is Founder at HiredByMe and Modaventure,Investor at Chew, Verticly, Investor and Advisor at Shuttlecook, Investor and advisor at ignite100, and Jinn. He studied at Imperial College London.

Laurence Marlor – ex – Angel Investor

Laurence Marlor – ex – Angel Investor

Laurence once was a world class wrestler, he was a lot bigger then than he is now. He shaved his head years ago so as people could not grab it and hence defeat him in the ring. If you see Laurro about ask him to show you some of his special moves, especially the Laurro Dangle which he was famous for.

Anyway the damage inflicted on his body whilst wrestling was huge and you can see the rope marks across his back still to this day, he told me it was wrestling but obviously it could have been some perversion


The above photo could easily be Laurence when he had hair…….


Ps Some of the above maybe untrue


Laurence Marlor

Laurence Marlor

Laurence is Co-founder TravelJigsaw (now known as, MBO with ISIS LLP and the sold to Studied at the Brunel University.


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