TechCrunch is reporting that AngelList is raising a “big round of financing at a valuation that multiple sources say will top $150M.” As a first round of outside financing, it’s a whopper.
I couldn’t be more excited for the team and for AngelList. It’s been a great service, one which has inserted itself into the necessary workflow of any early stage company executive or investor, making it one of the great interest-based networks out there. I look at AngelList a bit like a look at Quora–a key new social property that is immensely useful in my everyday life. Kudos and congratulations.
I am fascinated by what the opportunity this round holds and by the potential of what AngelList seeks to become. It is riding several important waves, which the TechCrunch article points out–notably the recently passed JOBS act. Always a good thing.
If you’re a startup, you’ll want to be working on your AL profile. AngelList will gain an increasing importance for startups, if it hasn’t already. It’s like keeping your LinkedIn profile up to date–make sure you’re keeping your AngelList profile up to date.
If you’re a professional investor, you’ll want to be working on your AL profile. Basically the same type of thing. If you’re not there or you don’t ‘get’ ANgelList, then spend the time to figure it out.
About the only word of caution I’d have is this. If you’re a startup, then getting on AngelList <> getting investment. There’s a lot that goes in to building a company and attracting investors. AngelList postings aren’t going to do it on your own. If you’re an investor, same type of message. Early stage investing is risky business. The JOBS act and other efforts are lowering the barriers to anyone investing in these early stage ventures. The adage of fools and their money holds true here.