So the story goes......
Modded is currently interviewing for a Chief Marketing Officer and Vice President of Sales. Now this is no easy task. Part of starting a new company is having the right team in place to help take Modded to the next level. Heck, not a lot of folks have the stomach to endure being part of a start-up.
Interesting enough, we've had well over 1000 applications from a variety of individuals, even referrals from Venture Capital and Angel organizations interested in helping to place high caliber, high energy individuals at Modded. This kinda proves my point - Modded.com is on the right track, with the right target verticals, and the right growth plan.
Enough about the growth of our amazing little organization and on to some updates. As I continue to work with our COO. I'm starting to get a better understanding of the investment process and the documents required from us to get those who want to invest comfortable with where we are heading. Apparently you need a full scale business plan with a 3 year layout, an Executive Summary, and a easy to consume and perhaps digest PowerPoint Presentation. So we move forward, or as our COO would say "Full Steam Ahead!". All while we continue to ramp up with client acquisition and partner with link minded companies in the industry.
The great news is that both are moving forward at an incredible speed. So that leaves me with this question, if we continue down the path of acquiring new clients, and are now recognizing revenue, do we really need to raise funds via a VC? Isn't possible to obtain some type of bridge financing, or small angel round without having to give up a huge chuck of the company? These are the questions I ask myself daily.
Finally today - we engaged with one of our clients who is growing his business with an investment group in our backyard. We chatted with the investment group, and they are quite the educated and talented group. After one of our initial assessments, they are looking for a company just like Modded who can be there turn-to/go-to technology partner as they grow out their investment base. Kinda cool to wow an organization that is valued at over $100 Million dollars.
On that note, we are still looking for contributing authors around social media, advertising trends, mobile engagement and really thought leaders. If you fit the mold, send me a note too: moalem@modded.com and let's chat.
Have a great day!
Matt
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