Colin Campbell wrote a very interesting article on StartUpBeat.com, he went into detail on how he raised $7million in 30 days for Dot Club. Colin gives the timeline that led from start to finish and is a very good read imo.
From the article:
I had a problem. A problem that almost every startup faces: Raising money. I had to raise $7 million fast for a concept that hadn’t yet generated any revenue, but I had to do it in 30 days, all without a broker, and all on my own.
In 2013 I had applied for a valuable stake of land on the Internet—a new domain extension that would be an alternate to ‘.com,’ ‘.net,’ and ‘.org.’ After much research and good old-fashioned gut instinct, I applied for ‘.CLUB.’ I chose the word ‘club’ because of all the generic words I could think of, ‘club’ had such universal meaning and appeal in just about every language and every country in the world. It had more global context than anything else, including the ubiquitous ‘.com.’
I soon found out I wasn’t the only one vying for this new real estate. I was up against a domain industry goliath and another company competing for the rights to .CLUB. Donuts had raised over $100 million to apply for 307 extensions, and I hadn’t yet raised a penny. I prepared myself to be the David in this fight, and I had to come up with a creative solution fast.
One night I had a dream that the .CLUB name sold for $7 million. So, I took that as a sign that I needed to raise $7 million to make this endeavor successful, but I still had no idea where that kind of money was going to come from in such a short period of time. I knew I had a focused business plan, I had only applied for one name, and I was determined to win. The $7 million question: How would I raise the money in 30 days? Answer: LinkedIn
Read the full article on Start Up Beat
