#AskJason #IBMSmartCamp What amount of users should a platform have before fundraising?

TL;DR

The significant number of users on a consumer-facing platform before fundraising depends on the level of engagement and the potential for growth.

Transcript

what is a significant amount of users that consumers facing platform a consumer-facing platform should be have before fundraising Harold shoes good question so depends on what fundraising we're talking about and it depends on the level of engagement I think if you haven't found anywhere from five hundred to a thousand people using your product ever... Read More

Key Insights

• 👤 The number of users required for fundraising depends on the level of user engagement and satisfaction.
• 🥰 Investors are more interested in products that a small number of people love, as it indicates potential for growth.
• 💅 Polish and execution of a product can outweigh the number of users in attracting investors.
• 🔇 The speaker has a personal connection with IBM, having started his journey with an IBM PC Junior.
• 🔇 The partnership between the speaker and IBM is a deep and meaningful relationship that supports founders.
• 🔇 The speaker encourages support for SmartCam 2015 and entrepreneurship by attending the Launch Festival.
• 🔇 The speaker considers the partnership with IBM an honor and recognizes their commitment to supporting founders.

Questions & Answers

Q: How many users should a consumer-facing platform have before starting fundraising?

The number of users needed depends on the level of engagement. Generally, anywhere from 500 to 1,000 daily or weekly users who are highly engaged would be a good starting point for fundraising.

Q: Are investors interested in products with a small number of users?

Yes, investors are interested in products that a small number of people love because it demonstrates potential for growth. If users have a strong engagement and satisfaction, investors believe they can help scale the product further.

Q: Is a large number of users necessary for fundraising?

A large number of users is not always necessary for fundraising. Investors look for products that have a depth of engagement and love from consumers. A well-executed product with a smaller number of highly engaged users can still be attractive to investors.

Q: How important is the polish and execution of the product for investors?

The polish and execution of a product are important for investors. If a product is well-executed, even with a smaller user base, investors can see potential for growth. The success of the partnership between the speaker and IBM demonstrates the significance of execution.

Summary & Key Takeaways

• To start fundraising, a consumer-facing platform should have anywhere from 500 to 1,000 highly engaged users.

• Investors are interested in products that a small number of people love, as it indicates potential for growth.

• Polish and execution of the product are also important factors for investors, as demonstrated by the partnership between the speaker and IBM.