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When You Say No to an Investor With Only $10 Left in Your Pocket

The conversation we had went well, our COO and CTO thought. It was 2014 and we’d been working on our start-up topishare for about 6 months, already having several investors running after us. Our first meeting, where we ‘felt the waters’, seemed like a great opportunity to increase the inflow of cash to accelerate building our product.

But I cut the meeting short and told him we weren’t interested.

My co-founders were shocked. We had only $10 left for the week, and the prospect of a large investment in the near future would make living on pennies more bearable.

And I understood what they meant. But I stood by my decision. Because raising funds is like getting married, you  can’t just share your bed with everyone.

After our first meeting, we’ve had many different investors, both angel and VC, wanting to invest in our start-up. With one we were very close to sealing the deal, until I decided to pull the plug when I learned he actually did not share our vision and wanted to sell our users’ data to third parties for profit.

And that’s what you should know, finding the right investor that understands not only your product, but also your vision and your goals, is very important. It determines the future of your start-up, the future of your baby.

Looking back at that first meeting I know that everything happens for a reason.

One and a half year later we are continuing to invest in our start-up. We have been very successful, and moved our start-up to Georgia. We are growing every day, mostly organically, having hired four very qualified employees.

Right now it’s the right time for us to plan a ‘marriage’ with an investor, as we’ve found the ‘golden egg’: a way to expand fast globally without any major costs. We’ve agreed on several strategic partnerships and are certain we’ve created a place online where everyone is equal. As part of this we are planning to share our success through an innovative approach

So with 10 dollars left in our pockets we left the meeting back in 2014. The investor came running after us, offering us a ride back to our apartment. But I decided to spend half of our last dollars on a taxi to get back home. And I know I made the right decision.

Article By Hila Peled