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Student Name

MM/DD/YY

BBUS 470 Sec XAngelList Case

1) Te !"unde#s "! AngelList$ %a&i'ant and Ni&i$ ad (een ass"ciated it se&e#al di!!e#entas*ects "! sta#ting a (usiness+ %a&i'ant as te !"unde# "! se&e#al sta#tu*s and as als" an

acti&e in&est"#$ and Ni&i as als" an in&est"#$ (ut (#"ugt te &entu#e ca*italist side t" te

*a#tne#si*+ ,it %a&i'ant-s e.*e#ience$ e *#"&ided !und#aising and neg"tiati"n ad&ice t" Ni&iile Ni&i as "#'ing at S"ng(i#d as a c"!"unde#+ Te t" #ealied tat ent#e*#eneu#s e#e

see'ing ad&ice a("ut te same ting tat te t" tal'ed a("ut and man "te# c"nce*ts tat

%a&i'ant ad sa#ed it "te#s "&e# time+ 2#"m tis$ te t" sta#ted a (l"g called 3entu#e

ac's t" el* ent#e*#eneu#s it tei# 5uesti"ns a("ut te *#"cess "! a sta#tu*$ it als" el*ed tet" gi&e (ac' t" te sta#tu* c"mmunit+ Te s""n #ealied tat ent#e*#eneu#s e#en-t 6ust

l""'ing !"# ad&ice$ (ut as t" c"nnect it in&est"#s+ Tis *#"&ided te insigt !"# te t" t"

sta#t AngelList+ Te unde#st""d te *#"(lems tat sta#tu*s ad it in&est"#s in&est"#s "uld

tend t" "a#d a c"m*an t" itsel! a!te# ma'ing an int#"ducti"n+ Tis limited te c"m*an-s"*ti"ns and made tem settle !"# s"meting tat as m"st li'el su("*timal+ AngelList made it

eas !"# multi*le in&est"#s and c"m*anies t" c"nnect$ all *u(licall s" in&est"#s c"uldn-t l"c'"ne c"m*an d"n+ C"nnecting c"m*anies t" in&est"#s ist"#icall as a sl" and ine!!icient

*#"cess AngelList all"ed c"m*anies t" !#ee u* tei# time ( a&ing te Angels c"me t" tem

t#"ug te e(site+Te (usiness %a&i'ant and Ni&i ad *#"duced as an att#acti&e "ne+ Te t" ad !"und a

a t" mitigate man "! te *#"(lems ent#e*#eneu#s !ace du#ing te in&estment *#"cess+ 8t als"

el*ed in&est"#s easil !ind c"m*anies te anted t" !und+ AngelList *#"&ided a se#&ice tat

aut"mated muc "! te in&estment *#"cess$ s*eeding u* te tu#na#"und "n a *"tential deal$ and#elie&ed muc "! te management and *e#!"#mance !ees tat e#e in&"l&ed it !und#aising+

Te c"m*an als" sta#ted Angel Talent$ a (*#"duct "! te !und#aising *#"cess$ ic el*edalle&iate 9#ec#uite# s*am: and *#"&ide c"m*anies it *"tential talent+ AngelList (uilt a s"lid#e*utati"n ( *#"&iding 9ig5ualit leads: !"# em*l"ees and em*l"e#s+

;) T*icall$ it "uld (e &e# di!!icult !"# an angel in&est"# t" (e a(le t" !und a c"m*anit a l" am"unt "! ca*ital since &entu#e ca*italist usuall ad m"#e ca*ital t" "!!e#$ (ut

Sndicate canged tis as*ect "! in&esting+ Sndicate all"ed l"e# in&estments ( m"#e

in&est"#s t#"ug leads+ Leads e#e in&est"#s tat e#e a(le t" c"nt#i(ute m"#e ca*ital t" a

sta#tu*$ ic all"ed te l"e# le&el in&est"#s

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c"m*an and in&est"# is t"" l"ng$ and ill need t" (e 5uic'e# i! te se#&ice is t" (e success!ul

en it is *used !u#te#+ >ne s"luti"n e *#"*"ses is !"# in&est"#s- t" *#el"ad (an' acc"unts

s*eci!icall !"# d"ing (usiness "n AngelList+ Tis *#"cess "uld ultimatel s*eed u* tet#ansacti"n "nce eac in&est"# c"m*leted te *a*e#"#'+ Tat migt n"t s*eed te *#"cess u*

en"ug$ t"ug+ 8t as menti"ned ea#lie# in te case tat in&est"#s "uld get caugt u* "n te

*a*e#"#'$ and legal d"cuments tat as needed t" !inis a deal (eteen a Sndicate andc"m*an+ e ma (e a(le t" !i. te *#"(lem "! getting ca*ital "ut 5uic'e#$ (ut te *#"cess ill

still a&e a ("ttlenec'+ A s"luti"n !"# tis "uld (e !"# eac deal tat is made (eteen te

Sndicate and c"m*an$ a s"#t te#m c"nt#act "uld (e included tat s*eci!ied te date teSndicate "uld a&e t" (e #ead t" dis*e#se its in&estment+ Tis means all *a*e#"#' "uld

a&e t" (e d"ne ( a ce#tain time "# else te c"m*an c"uld (#ea' te deal and *a#tne# it a

ne Sndicate tat as 9ne.t: in line+ T" mitigate an *"ssi(le *#"(lems it #es*"nsi(ilit

issues$ AngelList c"uld include a #ating "! eac Sndicate (ased "n tei# a(ilit t" act in a timelmanne# and stic' t" te s"#tte#m c"nt#act+ Sndicates "uld (e m"ti&ated t" 'ee* a ig sc"#e

s" te "uldn-t miss "ut "n te ne.t u*andc"ming sta#tu*+

Te case menti"ned tat AngelList c"uld (e used !"# "te# ma#'ets "utside "! Silic"n

3alle$ and tis is 8 (elie&e te se#&ice is scala(le+ ,at #eall stuc' "ut as teente#tainment indust#+ Tis indust# as &e# ig (a##ie#s t" ent# since te e5ui*ment used is

&e# e.*ensi&e+ Sta#tu* ent#e*#eneu#s in tis !ield c"uld (ene!it g#eatl !#"m a se#&ice li'eAngelList+ 8t c"uld (e used in te same a$ (ut tail"#ed t" !it te needs "! te in&est"#s and

c"m*anies itin a ce#tain indust#+ ?ust li'e Angel Talent

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AngelList Case Questions and Grading Rubric

Area Percent

available

Percent

Awarded

Comments:

Analysis and Plans

Insight in starting AngelList 30%

Behavior of angel investors 30%

Syndicates scalability !%

Communication of Ideas

Comm"nicates information inan easy to follow manner

!%

#ses correct grammar$selling and "nct"ation&

!%

'fficient ( ma)im"m of 3

ages l"s aendi) and isclear$ concise * direct&Avoids reetition *wordiness&

!%

Total Percentage 100%

Note+o not coy ,"estion in answer$ b"t "se the ,"estion n"mber&

Case !uestions

-. +escribe the Insight aroach that /aviant and 1ivi "sed to identify the need for

AngelList& 2as it an attractive b"siness oort"nity 2hy or why not

. 4ow did the Syndicates rod"ct change the incentives and behaviors of early stageinvestors

3. +o yo" believe /aviant5s vision that Syndicates is scalable 2hy or why not

Case Assignment format

Cases will be 3 ages ma)im"m$ -6 margins with - t& tye$ single saced$ and m"sthave the St"dent 1ame 7 Section in the header& 8o" may have an additional ages forgrahs$ tables$ or charts and - age for wors cited& S"bmitted materials e)ceedingthese standards will lose oints in grading&

Please do not incl"de the ,"estions in yo"r answers$ rather 9"st incl"de the ,"estionn"mber&