Following my last post on how we raised money — and thanks for the huge support by the way, I got the same exact question a couple of times. Why did you raised $908K and not $1M? That’s a good question, and it’s clear that we all like round numbers, easier to remember, more impact in the media. Prettier.
I love numbers. How pretty is 999,999? Or something super cool like 1,234,567? At the end, the only difference between all these numbers are the number of shares you sell, and who buy them. We first wanted to raise 100K from a belgian angel. Then thought we should raise 250K to have more time before the next round to focus on the product here in Belgium. Then, seeing the high interest from top investors (being trending on AngelList helps, thanks for the support Naval), we decided to go to 800K to hire aggressively, ship faster and move to the US to work closer with our investors.
And then, magic happens, an investor a really like told me we should raise more. How crazy is that!? Not that much, remember: what you raise equal what you sell. We could have raised more money from people I really liked, but the commitments we got were already like 9x the amount we were ready to raise a couple of months before.
Did we had enough money to hire the best, moving to New York, having fun with the product, working on a super ambitious roadmap while building a strong community of happy users? Yes. Should we have spend more time with our calculators raising a prettier number? No.