My Company Got Funded Millions of Dollars (AMA)

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Congrats on your investment and best of luck going forward!

Thank you!

Wow that is awesome. Congrats to you!

Thank you!

It would be nice that when your company goes in the open you share it with us.
Congrats!

Company is already open and running

Say you received $2 million for 10%, that would value your company at $20 million. How did you convince them on the valuation? Based on existing revenue?

I've always played with the idea of getting investors on-board, but struggle with the idea of answering to someone and the pressure of meeting someone else's goals. What made decide to go after investors vs. self-funding?

Based on existing revenue... no one cares about what you could make... they care about what you are making. Also having a solid product helps too ;)

I went with an investor because I wanted to scale faster... I was bringing in money but in order to grow and blow up I needed an extra push. I didn't just pick up the investor for the money theres a lot of perks to it. You not only get their money you get their knowledge and connections as well.

Why so much hate? Why would he spend time to post this, if it didn't happen? I mean come on, a lot of BHW users are lucky and had this happen before. It's not a bad post, it's not bragging, it's about sharing ideas and experience - this is why the forum is for anyways. At least it's not a dumb post how i made 3 billion in 6 months or BS like that.

Congrats OP! Re-invest and scale up the number of companies you owe now! :)

Very true haha


Congratz,

Is this VC funded? What type of shares did they buy?

I didn't get in bed with a VC. I got an angel investor instead that took private stock directly from my company. No brokers were involved and we followed all SEC rules.. as far as funding goes.
 
Congratulations on your funding @Andre Youkhna !

You failed to answer this question honestly by Deleted member 15724 : " Say you received $2 million for 10%, that would value your company at $20 million. How did you convince them on the valuation? Based on existing revenue?"

Can you Butress on how you're able to evaluate you companies current worth for an investor to take 10 percent of it ?

2. Let say you have a JV with a partner. You started the idea have the project funded only to have the partner develop the project ( technical aspect ) . At a stage the project requires more money from investors. How do you think percentage shares would work amongst the Founder , Developer and investors.

I will appreciate your input .
 
Good job. Don't ever give up, especially not on some corporate psychopath's account because they grilled you. Did you change your sales pitch after that, or just found the right investor(s)?
 
Revenue and profit = investment opportunity. If you don't have revenue, you need massive growth. Too many people try to raise funding at the wrong times. You don't need to raise capital to launch an online tech product. Bootstrap your startup, don't sell equity until it makes sense to raise capital, and please for the love of god people, get yourself a startup attorney (you will get shafted if you try to navigate this solo).
 
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Congratulations, you really work for Costa, Heineken and so on? That`s impressive.
 
Congrats @Andre Youkhna !!

In the future if you become a multi-millionaire do not forget BHW !!!

GL

Thank you!!

Congratulations on your funding @Andre Youkhna !

You failed to answer this question honestly by Deleted member 15724 : " Say you received $2 million for 10%, that would value your company at $20 million. How did you convince them on the valuation? Based on existing revenue?"

Can you Butress on how you're able to evaluate you companies current worth for an investor to take 10 percent of it ?

2. Let say you have a JV with a partner. You started the idea have the project funded only to have the partner develop the project ( technical aspect ) . At a stage the project requires more money from investors. How do you think percentage shares would work amongst the Founder , Developer and investors.

I will appreciate your input .

"How did you convince them on the valuation? Based on existing revenue?"

-By showing them a proof on concept and my prototype. I had a pretty stable existing revenue plus I had a state of the art tech that my industry hadn't seen before.

2. Whatever share you have left you can get investors for... for example you gave 10% to a developer.. you have 90% left for investors. Your tech guy has no incentive to give up any stake. I hope I answered your question.


Good job. Don't ever give up, especially not on some corporate psychopath's account because they grilled you. Did you change your sales pitch after that, or just found the right investor(s)?

Ok I have a few question.

Why did you need funding in the first place?

Is your product innovative?

Did you go to banks first? Why did bank refuse your funding?

I needed funding to grow faster...
My product is one of a kind.
I didn't go to any banks because I didn't want loans. I wanted an investor so I could get their minds, and connections as well.

Revenue and profit = investment opportunity. If you don't have revenue, you need massive growth. Too many people try to raise funding at the wrong times. You don't need to raise capital to launch an online tech product. Bootstrap your startup, don't sell equity until it makes sense to raise capital, and please for the love of god people, get yourself a startup attorney (you will get shafted if you try to navigate this solo).

Oh 100% agree. You need the best lawyers in the game. Cooley is a great law firm to work with as a start up.

Congratulations, you really work for Costa, Heineken and so on? That`s impressive.

Thank you!

Congrats, good info! Im looking into this space, and have a few options. Always good to learn more about it

Thanks for your input! Let me know if you have any questions!
 
Thanks for making this transparent post.

I can see you dominating the L.A. market.

How are you paid? Do you assign your own salary as CEO? or take your percentage from the companies profit revenue every month?
 
Now that's great news! Congrats man!
Reminds me of Jeff Bezos explaining how he got his $1M funding from 20 people,
 
Thanks for making this transparent post.

I can see you dominating the L.A. market.

How are you paid? Do you assign your own salary as CEO? or take your percentage from the companies profit revenue every month?

I currently take no money from my business. Everything I eat, buy, and pay for is bought with the company card and is used as an expense.

https://www.deskxai.com/ This project is funded by investors or some else?
That and something else.


Now that's great news! Congrats man!
Reminds me of Jeff Bezos explaining how he got his $1M funding from 20 people,

Thank you man!
 
tl;dr: Fraudin?

Hey @Andre Youkhna, thanks for responding to questions. I want to believe this is legitimate, but I have such a strong feeling that this is embellished if not fabricated. I spent a while working reputation management with clients in the space that you are currently in. I literally spent a year trying to rebuild the rep of someone who was working on building "the next great social network" and was "securing funding" at every turn but the backers pulled out for some reason or another.

What I'm seeing as a track record is that you https://www.blackhatworld.com/seo/hello-bhw.1050374/ that you were CEO of a company that generated $45 million for clients. @Sephrata called you out pretty quick on that, and you played it off well. This company is nowhere on your LinkedIn. I basically couldn't find anything online about this company that made $45 million for clients in 2018 except a Fiverr profile that had the exact same copy pasted information as your intro thread: https://www.fiverr.com/digitalmediafy. And that you sold https://www.fiverr.com/digitalmediafy/optimization-your-mobile-website-speed that nobody ever bought. Your site is gone, like completely gone, which is impressive for a company of that size to just disappear like that. Unless $45 million is not an accurate number.

I did see the other company that you listed as CEO of on your LinkedIn, though. From 2011 to last month, which is impressive since you graduated college last year. I found the website for the company. Nice site, but it's a little off putting that your testimonials are generic as can be and the people's photos in your testimonials all reverse image search to dozens of results. And your clients page mysteriously is blank. The social icons lead to nothing, and the team members on the Team page are the default for the cheap WordPress theme you bought for that site. Ran the company for eight years, are a leader in SEO, and that's your website. Unless "The #1 SEO Services Company" is not accurate, either. I wanted to listen to your company podcast, too, but I was disappointed that the episodes all 404'ed.

But then company three comes along. https://www.blackhatworld.com/seo/jv-digital-media-agency-looking-for-partners.1070639/. Whose logo is a free deer icon and some cheap text. Whose domain was registered in October 2018. Whose website was on Wix and is now down because in February, three months after starting, the whole company was "dissolved". I found a Reddit thread where you are hawking your services and claiming the $45 million number again, but with this new company instead of your Digital Mediafy company. $45 million... why do you need to offer services cold on Reddit? (Also, I found another startup you created a year ago and that website leads to nothing as well). So that went poof in a matter of months.

And now Deskx AI, which isn't even the social network startup concept that you say you got funded. All these companies share the same address. All these companies came and went in a few years. Late last month you were complaining that you were having trouble hiring sales people because they all thought they were worth a quarter-mil plus commissions. Meanwhile there's a Reddit thread by you hiring people that was deleted because it was commission only with no base pay. There is also the issue that the banned member above brought up, another Reddit thread where you are clearly conversing with yourself and shilling your own service. A service that has been around for a month.

You expect us to believe that you got funded millions of dollars, but your responses in here are vague and canned. Almost all of your threads are you boasting about your own services, but all I see are the shells of companies that either are completely fake, or have no track record of success. You're hopping on the same AI SEO train that so many other shillers are. A couple months ago you hinted at what I assume this "funded project" is: https://www.blackhatworld.com/seo/a-new-social-network-journey-to-god-knows.1112169/.

You have hinted several times at "nurr.io" being your new site, and likely the topic of this thread. The site doesn't work. It isn't live, it isn't indexed. So what is the story? Again, I've worked with people like you. I have created these grandiose personas for others to make them seem larger than life than they actually are. I would have left this alone if you didn't have an open JV thread trying to get other members to work for/with you. I've called out a lot of things like this on BHW over the years, this isn't new. What's the story? Prove me wrong.
 
tl;dr: Fraudin?

Hey @Andre Youkhna, thanks for responding to questions. I want to believe this is legitimate, but I have such a strong feeling that this is embellished if not fabricated. I spent a while working reputation management with clients in the space that you are currently in. I literally spent a year trying to rebuild the rep of someone who was working on building "the next great social network" and was "securing funding" at every turn but the backers pulled out for some reason or another.

What I'm seeing as a track record is that you joined and immediately posted that you were CEO of a company that generated $45 million for clients. @Sephrata called you out pretty quick on that, and you played it off well. This company is nowhere on your LinkedIn. I basically couldn't find anything online about this company that made $45 million for clients in 2018 except a Fiverr profile that had the exact same copy pasted information as your intro thread: https://www.fiverr.com/digitalmediafy. And that you sold mobile site optimization for $600 that nobody ever bought. Your site is gone, like completely gone, which is impressive for a company of that size to just disappear like that. Unless $45 million is not an accurate number.

I did see the other company that you listed as CEO of on your LinkedIn, though. From 2011 to last month, which is impressive since you graduated college last year. I found the website for the company. Nice site, but it's a little off putting that your testimonials are generic as can be and the people's photos in your testimonials all reverse image search to dozens of results. And your clients page mysteriously is blank. The social icons lead to nothing, and the team members on the Team page are the default for the cheap WordPress theme you bought for that site. Ran the company for eight years, are a leader in SEO, and that's your website. Unless "The #1 SEO Services Company" is not accurate, either. I wanted to listen to your company podcast, too, but I was disappointed that the episodes all 404'ed.

But then company three comes along. ING Marketing Group. Whose logo is a free deer icon and some cheap text. Whose domain was registered in October 2018. Whose website was on Wix and is now down because in February, three months after starting, the whole company was "dissolved". I found a Reddit thread where you are hawking your services and claiming the $45 million number again, but with this new company instead of your Digital Mediafy company. $45 million... why do you need to offer services cold on Reddit? (Also, I found another startup you created a year ago and that website leads to nothing as well). So that went poof in a matter of months.

And now Deskx AI, which isn't even the social network startup concept that you say you got funded. All these companies share the same address. All these companies came and went in a few years. Late last month you were complaining that you were having trouble hiring sales people because they all thought they were worth a quarter-mil plus commissions. Meanwhile there's a Reddit thread by you hiring people that was deleted because it was commission only with no base pay. There is also the issue that the banned member above brought up, another Reddit thread where you are clearly conversing with yourself and shilling your own service. A service that has been around for a month.

You expect us to believe that you got funded millions of dollars, but your responses in here are vague and canned. Almost all of your threads are you boasting about your own services, but all I see are the shells of companies that either are completely fake, or have no track record of success. You're hopping on the same AI SEO train that so many other shillers are. A couple months ago you hinted at what I assume this "funded project" is: https://www.blackhatworld.com/seo/a-new-social-network-journey-to-god-knows.1112169/.

You have hinted several times at "nurr.io" being your new site, and likely the topic of this thread. The site doesn't work. It isn't live, it isn't indexed. So what is the story? Again, I've worked with people like you. I have created these grandiose personas for others to make them seem larger than life than they actually are. I would have left this alone if you didn't have an open JV thread trying to get other members to work for/with you. I've called out a lot of things like this on BHW over the years, this isn't new. What's the story? Prove me wrong.
Wow.
That's why I love you, Sherbert Hoover
 
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