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AngelList is a U.S. website for startups, angel investors, and job-seekers looking to work at startups.[1][2][3][4][5][6] Created in 2010, the platform has a mission to democratize the investment process and to help startups with their challenges in fundraising and talent.[7][8] It started as an online introduction board for tech startups that needed seed funding.[9] Since 2015, the site allows startups to raise money from angel investors free of charge.[9][10]

AngelList
AngelList logo.png
AngelList's logo
Screenshot
AngelList screenshot.jpg
Screenshot of AngelList
Type of site
Entrepreneurship, Startups, Investments, Recruitment
Available in English
Owner Naval Ravikant and Babak Nivi
Subsidiaries Product Hunt, Republic, CoinList
Website https://angel.co
Commercial Yes
Launched April 22, 2010; 8 years ago (2010-04-22) in San Francisco, CA
AngelList co-founder, Naval Ravikant

Contents

FoundationEdit

AngelListEdit

AngelList was founded in 2010 by serial entrepreneur Naval Ravikant and Babak Nivi. Using the traction from the Venture Hack blog on entrepreneur financing, Naval and Babak started a list of 25 investors with whom they would share interesting companies to invest in.[1][11][12][13][14] They announced the list as “AngelList” in 2010, with the subscription of 50 investors.

Babak NiviEdit

Babak Nivi was previously an entrepreneur-in-residence at Bessemer Venture Partners and Atlas Venture. He has worked on multiple startups including Songbird, Grockit, and Kovio. Nivi studied computer science and electrical engineering at Massachusetts Institute of Technology. While at MIT he was a graduate research assistant from 1996 till 2000 where he applied for and received 2 patents.

Nivi co-invented the first printed inorganic transistor and is an author of the science paper “All Inorganic Transistors Fabricated by Printing”.

Naval RavikantEdit

Naval Ravikant studied computer science and economics at Dartmouth. He later co-founded Epinions - a consumer review site, and Vast - a classified-ad marketplace. During his brief work with Benchmark Capital and August Capital, a complaint was filed regarding Epinions’ financial affairs. This inspired him to start the “Venture Hack” blog in 2007 with Babak Nivi.[13][14][15]

Mission & OperationsEdit

AngelList aims to democratize the investment process. Business Insider dubbed AngelList the “Match.com for investors and startups”.[16] In a recent interview, Naval Ravikant wants more “innovation on [the] infrastructure for innovation itself” by helping startups with money, talent, and customers.[17]

AngelList’s Syndicate facilitates startup financing with accredited investors. AngelList Jobs connect talents with startups. AngelList’s acquisition of Product Hunt will allow more support for startups with customer generation and product launch.[6][18][19] Naval also mentioned that Republic is a part of this mission by democratizing startup financing with non-accredited investors.[17]

SyndicatesEdit

AngelList Syndicates allow startups to raise money from accredited investors investing alongside prominent angel investors.[20][21][22][23][24]

JobsEdit

AngelList launched Jobs - its recruiting portal in 2012.[25][26]

AcceleratorsEdit

In late 2012, AngelList launched a portal for accelerators and incubators to accept and manage applications from startups to their programs.[27] At opening, AngelList accepted applications for 500 Startups, TechStars Boston, and AngelPad. Other accelerators, like Rock Health, accept applications exclusively through AngelList.[1][28][29]

Subsidiaries and Spin-offsEdit

In July 2016, AngelList launched Republic - a spinoff addressing the democratization of startup equity crowdfunding with non-accredited investors.[4][17]

In November 2016, AngelList acquired Product Hunt.[6][18][19] Naval plans to build Product Hunt further in “helping companies find their early customers.”[17]

In October 2017, CoinList - initial coin offering services for startups and accredited investors - spun off from AngelList.[30]

Involvement in the JOBS ActEdit

Support of the JOBS ActEdit

In mid-2012, Naval Ravikant and Kevin Laws were active in Washington in his support for the JOBS Act.[13][14][31] He was in discussion with “Senate and Congressional staffers, Steve Case, and influential Congressmen that would listen.”[32] During the same period, he organized an online petition that attracted 5,000 signatures on a letter to Senate leaders in support of the Act.[14][33] Later in 2013, Naval Ravikant wrote a letter to the SEC to object changes in the JOBS Act that he believed "could create disastrous unintended consequences for the startup community."[34]

No-Action Letter from the SECEdit

In 2013, AngelList received a no-action letter from the SEC, allowing the operations of its Syndicates platform. FundersClub also received such a letter in the same period.[35][36]

See alsoEdit

ReferencesEdit

  1. ^ a b c Davidson, Andrew (May 17, 2013). "Follow the money: AngelList has blown open early-stage investments". WIRED. Retrieved 2018-05-03. 
  2. ^ Stone, Brad (January 17, 2014). "AngelList, the Social Network for Startups". Bloomberg.com. Retrieved 2018-05-03. 
  3. ^ Primack, Dan (October 12, 2015). "AngelList gets institutionalized". Fortune. Retrieved 2018-05-04. 
  4. ^ a b Dodson, Claire; Richardson, Nikita (August 8, 2016). "Updates From Our Most Innovative Companies". Fast Company. Retrieved 2018-05-04. 
  5. ^ Chapman, Lizette (September 15, 2016). "AngelList Braces for Rainy Days as Startup Seed Funding Falls". Bloomberg. Retrieved 2018-05-04. 
  6. ^ a b c Geron, Tomio (December 19, 2016). "Angels Muscling In on VC Turf". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-05-04. 
  7. ^ Empson, Rip (April 21, 2012). "The Power Of AngelList Revealed In Its New Look: 978 Deals, 48 Acquisitions – TechCrunch". TechCrunch. Retrieved 2018-05-03. 
  8. ^ Rao, Leena (December 15, 2012). "AngelList Raising A Big Round, To Be Valued at $150 Million Or More – TechCrunch". TechCrunch. Retrieved 2018-05-03. 
  9. ^ a b Primack, Dan (November 13, 2014). "A disruptor shakes up angel investing". Fortune. Retrieved 2018-05-03. 
  10. ^ Hardy, Quentin (March 31, 2015). "Angel Investors Lend Expertise as Well as Cash". The New York Times. ISSN 0362-4331. Retrieved 2018-05-03. 
  11. ^ Suster, Mark (February 27, 2011). "What's The Real Deal With AngelList? – TechCrunch". TechCrunch. Retrieved 2018-05-03. 
  12. ^ Hindman, Nate C. (September 20, 2011). "Naval Ravikant, AngelList: A Social Network That Connects Startups With Investors". Huffington Post. Retrieved 2018-05-03. 
  13. ^ a b c Timoner, Ondi (October 7, 2013). "How Naval Ravikant Risked It All To Pull The Veil Back on Venture Capital". Huffington Post. Retrieved 2018-05-03. 
  14. ^ a b c d Halperin, Alex (March 24, 2014). "Silicon Valley's Avenging Angel". Fast Company. Retrieved 2018-05-03. 
  15. ^ Carter, Stinson (October 25, 2016). "A Day in the Life of Naval Ravikant". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-05-04. 
  16. ^ Gobry, Pascal-Emmanuel (November 2, 2011). "The Way Companies Are Getting Financed Is Completely Changing". Business Insider. Retrieved 2018-05-03. 
  17. ^ a b c d Loizos, Connie (May 19, 2017). "Naval Ravikant hints at future plans for Product Hunt and adding secondary trading to AngelList – TechCrunch". TechCrunch. Retrieved 2018-05-04. 
  18. ^ a b Wagner, Kurt (December 1, 2016). "AngelList has acquired Product Hunt for around $20 million". Recode. Retrieved 2018-05-04. 
  19. ^ a b Konrad, Alex (December 1, 2016). "AngelList Acquires Popular Tech Discovery Site Product Hunt To Go After Startup Jobs Search". Forbes. Retrieved 2018-05-04. 
  20. ^ Eldon, Eric (July 28, 2013). "Angels Get Carry For Helping A Startup Raise Money With AngelList Syndicates – TechCrunch". TechCrunch. Retrieved 2018-05-03. 
  21. ^ Carlson, Nicholas (September 30, 2013). "The Startup Investing World Got Turned On Its Head Over The Weekend, And VCs Are Freaking Out". Business Insider. Retrieved 2018-05-03. 
  22. ^ Willis, Tyler (June 29, 2014). "An angel investor's ultimate guide to AngelList Syndicates". VentureBeat. Retrieved 2018-05-03. 
  23. ^ Baehr, Evan (Jan 23, 2016). "Profit From A Profile On AngelList – TechCrunch". TechCrunch. Retrieved 2018-05-04. 
  24. ^ Shin, Laura (January 27, 2016). "Blockchain Capital Closes $13M Second Fund; Offers $1,000 Investments In Syndicate". Forbes. Retrieved 2018-05-04. 
  25. ^ Sloan, Paul (September 5, 2012). "AngelList attacks another startup pain point: Legal fees". CNET. Retrieved 2018-05-05. 
  26. ^ Terdiman, Daniel (August 16, 2012). "AngelList launches talent recruiting portal". CNET. Retrieved 2018-05-05. 
  27. ^ Griffith, Erin (November 16, 2012). "AngelList now powering applications for incubators like TechStars Boston, AngelPad". Pando. Retrieved 2018-05-05. 
  28. ^ Rao, Leena (February 26, 2013). "Startup Accelerator Rock Health Now Accepts Applications Exclusively Through AngelList – TechCrunch". TechCrunch. Retrieved 2018-05-05. 
  29. ^ Hoque, Faisal (January 15, 2016). "Do Accelerators And Incubators Serve Themselves Better Than Startups?". Fast Company. Retrieved 2018-05-05. 
  30. ^ Kokalitcheva, Kia (October 10, 2017). "CoinList spins out of AngelList". Axios. Retrieved 2018-05-04. 
  31. ^ Coren, Michael J. (May 16, 2017). "AngelList is funding the minor leagues of venture capital (and giving founders $500,000 to start)". Quartz. Retrieved 2018-05-04. 
  32. ^ Khazan, Olga (2012-03-27). "With passage of JOBS Act, Steve Case, AngelList founder and others look forward to a less-regulated start-up world". Washington Post. ISSN 0190-8286. Retrieved 2018-05-03. 
  33. ^ Khazan, Olga (April 1, 2012). "JOBS Act aims to simplify start-up fundraising". Washington Post. ISSN 0190-8286. Retrieved 2018-05-03. 
  34. ^ Constine, Josh (August 17, 2013). "AngelList Tells SEC New Fundraising Rules Will Kill Startups – TechCrunch". TechCrunch. Retrieved 2018-05-03. 
  35. ^ Lawler, Ryan (March 31, 2013). "As Crowdfunding Takes Off, SEC Greenlights AngelList's Investment Platform – TechCrunch". TechCrunch. Retrieved 2018-05-03. 
  36. ^ Doyle, Dentons-Rani (April 19, 2013). "FundersClub: what does the SEC's no-action relief really mean? | Lexology". Lexology. Retrieved 2018-05-03.