NEWS & MEDIA: The InSITE Blog
Apr
23

The New York Angels is a formal organization for angel investors here in New York City to capitalize on sharing information and resources. Most large cities across the country have a similar group. Thanks to Paul Tumpowsky (InSITE Chairman of the Board) and Bronson Lingamfelter (former InSITE Fellow) who recently connected InSITE with the New York Angels, two other InSITE fellows (Marisa Tricarico and Roy Simkhay) and I are now part of the “Future Angels Program.”

As “Future Angels” we attend and actively participate in all of the angels meetings, and so far, the learning experience has been incredible. I am particularly impressed with the organization of the meetings and I am learning the appropriate questions to ask for understanding the fundamentals of a venture in just a 30-minute meeting—the Angel’s ability to quickly zero in on the critical issues is remarkable. I attribute this partially to the informal format of the meetings: a presentation spotted with Q&A is completely practical. This eases the tension for the entrepreneur and prevents the angels from falling behind throughout the presentation. When an entrepreneur struggles to explain the revenue model clearly or convince the angels as to why their marketing campaign will drive eyes to their website, an Angel immediately jumps in with questions and won’t move on until she understands.

Collaborative forums like New York Angels is a big part of what the venture community is about; as Brian Cohen has said, angel investing can be a tough sport. By coming together, the Angels can consider several potential investments at once, and analyze them with peers to spot the successful entrepreneurs and find ways to fund promising ideas. The Angels create opportunities for themselves by forming long-term relationships with entrepreneurs who have impressive backgrounds, or intriguing ideas.

At last month’s meeting, the Angels heard more than ten pitches. Here are my thoughts on a few that I would consider most promising.

NabeWise Media helps movers find the perfect neighborhood while also providing real estate agents with tools to educate their clients—think Yelp! of the real estate market. Due to the “fair housing” laws, Real Estate agents are not allowed to quote neighborhood characteristics such as safety, demographics, trendiness and noise level to their clients. Now, NabeWise gives these brokers a tool to recommend to their clients for getting that critical information. NabeWise’ success hinges on great scalability and marketing potential. CEO Ann Baldinucci hires interns to write initial reviews of various neighborhoods (i.e.: Tribeca, Williamsburg, etc.), which serve as a jumping off point for customers to research and offer their own unique feedback. Scale exists because the interns can review 100 neighborhoods in a month (as a reference point, New York City’s five boroughs have approximately 300 neighborhoods). On the marketing front, Ann is signing subscription partnership deals with large networks of real estate brokers who have provided positive feedback.

SeatGeek is the first website to both reliably scrape data from online ticket brokers and provide price predictor technology. Co-Founder Zack Groetzinger captured the Angel’s attention, proclaiming SeatGeek to be 82% accurate in it’s forecasting. The forecast uses algorithms that plow through millions of compiled ticket transactions and aggregated factors that influence ticket prices. These algorithms give SeatGeek a current competitive advantage that keeps their product superior to all other ticket aggregators and online broker sites. SeatGeek earns revenue through relationships with secondary ticket markets and has begun signing revenue sharing deals with many content sites. SeatGeek has the potential to become the next Kayak of the ticket world and for now they have gained another customer: me.

SpyderLynk creates a “snaptag”—a company’s logo with a unique (bar) code ring—that allows the consumer to interact with a company through a new marketing channel. Using mobile devices, consumers take a picture of a snaptag, which is strategically placed in a magazine or other advertisement, and then send the picture to the sponsor company. In doing so, the consumer enters into a game, wins prizes or receives coupons—the marketing and branding possibilities are endless. SpyderLynk reminds me of stickybits, in the way that both companies are creating connections between the physical and digital worlds. SpyderLynk has created a new way to build a brand, however, its success depends on (1) signing branded companies and (2) a smart marketing campaign to educate and attract customers who want to use the posted snaptags. SpyderLynk has a few name brands signed up, but for what seems like a trial, so I do not know how strong their biz dev and marketing campaigns are. This startup may be a concept that needs further development before finding investors, but for now, the angels have remained in contact.

-By InSITE fellow Jonathan Cooper

Apr
22

TechCrunch reported on 4/1/2010 that NearVerse, co-founded by InSITE Alum Vic Singh, had raised $1M for further development of its proximity based mobile social network LoKast.

Funding came from Meakem Becker Venture Capital (interestingly, whose Managing Director Glen Meakem is the brother of InSITE Board Member and Kodiak Venture Partners Managing Partner Chip Meakem – all roads lead back to InSITE).

Read the full article at Techcrunch.

– Rich Powell, InSITE Board Member

Apr
19

On Tuesday, April 13th, InSITE hosted it’s 10th Anniversary Celebration and closing dinner. We were thrilled to be joined by many special guests including:

Alex Cohen, InSITE Founder and GC and CCO for On Deck Capital
Andrew Moss, InSITE Alumni and Founder of BuyWithMe
Ben Lilienthal, InSITE Alumni and Founder of Vapps
Bronson Lingamfelter, InSITE Alumni and Associate at Rose Tech Ventures
Dan Lifton, InSITE Board and COO at Quality of Life Labs
David Pashman, Legal Team Leader at Meetup
Dawn Barber, InSITE Board and Founder of NY Tech Meetup
Josh Spodek, InSITE Alumni and Founder of Submedia
Karl Alomar, InSITE Past President and CEO at China Export Finance
Mac Lipscomb, InSITE Board and Operating Partner at InSITE Sponsor RRE Ventures
Mark Davis, InSITE Alumni and Associate at DJF Gotham Ventures
Matt McCooe, InSITE Alumni and Managing Partner at Chart Venture Partners
Molly Siems, InSITE Alumni and Account Manager at Fly Communications
Pete Karlen, InSITE Board and VP at EarthWater Global
Robyn Soto, InSITE Board and Director at Tishman Speyer
Sacha Ross, Associate at InSITE Sponsor Wilson Sonsini Goodrich & Rosati
Vic Singh, InSITE Alumni and Co-Founder of NearVerse
Vinay Jain, InSITE Board and Associate at Skadden Arps Slate Meagher & Flom
Zubin Canteenwalla, InSITE Alumni and Associate at NGEN Partners

InSITE presented several special awards:

Fellow Achievement Award: Shirley Xu
For special service as a first year InSITE Fellow, including leading our first VCAP Special Project Team and volunteering to serve as Special VP for Alumni Companies to survey their funding success, which showed that InSITE Companies had raised more than $215M in venture financing since 2000.

Alumni Achievement Award: Andrew Moss
For extraordinary accomplishments in entrepreneurship since graduating from InSITE (and NYU Law in 2001), particularly founding BuyWithMe in 2009 and raising a $5.5M Series A round.

First Annual Inductee into the InSITE Hall of Fame: Paul Tumpowsky
For guiding InSITE through 10 highly successful years as Chairman of the Board including developing the organization’s core program and relationships with sponsors, startups and supporters throughout the NYC venture community.

A full list of InSITE honors is available here.

Current InSITE Fellows and Board Members elected ten new executives to run the organization in 2010 – 2011 and two out-going Fellows to serve as Young Alumni Board Members:

Lastly, InSITE thanks the outgoing Class of 2010:

Christian DiCarlo, Columbia MBA
Duncan Welstead, Columbia MBA
Geetika Agrawal, NYU MBA
Godfrey Powell, Jr., NYU MBA
Haley Boruszak, NYU MBA
Jane Kang, NYU JD
Jeff Hui, Columbia MBA (who will stay on with InSITE as a Young Alumni Board Member)
Jennifer Gootman, NYU MBA
Justin Heyman, Columbia MBA
Kesha Cash, Columbia MBA
Max Eckstein, Columbia JD
Jane Kang, NYU JD
Ricky Opaterny, NYU MBA
Rob Schneider, Columbia MBA
Roy Simkhay, Columbia MBA
Ryan Orton, Columbia MBA
Shawn Khazzam, NYU MBA
Tony Leotti, NYU JD/MBA
Vinay Ganti, NYU JD/MBA

– Rich Powell, NYU JD ’10, signing off as 2009-2010 President; thanking all the past Execs, Team Leaders, Alumni and Supporters for another great year; and wishing the best of luck to the stellar 2010-2011 Execs

Apr
1

An engineer by training, Kevin Keller realized in law school at NYU that his interest lay in how companies generate revenue with their technology. Alex Cohen, a Columbia Law student with similar interests, approached him and together they founded InSITE. Through InSITE, Kevin learned how to help companies develop compelling ways to describe their plans for monetizing growth, a skill that has helped to shape his career.

After graduation, he did tech deals at Wilson Sonsini in Palo Alto. From there, he left to work in-house—first at Micron, then for Microsoft and now as the lead in-house counsel for Lab126, the wholly owned subsidy of Amazon responsible for developing the Kindle.

What did you take away from your experience with InSITE?

A few things: First, if you can’t convince yourself that you, your ideas, or your business will be successful, you can’t convince anyone else. Whether it’s a job interview, a pitch to a VC, etc. you need to believe and tell a compelling story to others that gets them excited about you, your ideas and your opportunity for success. To do that, you need to be able to boil your ideas down to their essence, to describe them in a precise and succinct way. It doesn’t matter the business, it could be technology, law or selling shoes, you have to be able to tell a compelling story. Second, working to start InSITE and with our first groups of companies and sponsors, I learned that my interest lay in a more business-oriented area of the law, not in patent prosecution, corporate securities or M&A, but in helping companies as they crafted the deals that created technology and monetized it.

What was the difference between working for a law firm and working in-house at a company?

Law Firm

Working for a law firm allows you to represent many clients across many industries. At the law firm where I started (Wilson, Sonsini), I worked with companies across technologies from file-sharing to consumer electronics, biotech, semiconductor equipment, and semiconductor manufacturing (to name just a few). I also represented companies at various points in their lifecycle, from start-up through sale, IPO or even bankruptcy. However, as an attorney at a law firm you’re an expensive consultant, and rarely have the opportunity to spend the time to engage deeply with the business. Hours are also long and scheduling can be very unpredictable.

In-House

Working in-house allows you to engage deeply with all areas of one business. I don’t mean to suggest that working in-house is limited though. There are issues across the board to consider—environmental, software, export, FTC, licensing, regulatory—but the issues surround one device or category. The in-house opportunity probably gives you more opportunity to sink your teeth into the initial conception of an idea through putting that product into the customer’s hands.

There are significant differences between working in-house at a start-up and working in-house somewhere like Microsoft. Working in-house for a bigger company is more like a law firm since there are so many resources and people. It’s often good for someone more junior to start in-house at a larger company since it will be more structured. At a smaller company, you do a lot of the research yourself, you don’t have an assistant, you don’t have the resources to call in experts for every issue. It might mean more work, but you become more of an expert and become more involved in the various issues instead of passing them along.

What advice do you have for students looking to get into venture capital and/or entrepreneurship?

The best thing you can ever do is to try areas that you don’t have much experience in. I took a number of jobs that broadened my skill set. For example, I worked doing biotech deals for a year. If you’re at a law firm, I also think doing some M&A and bankruptcy work would be useful.

What advice do you have for law firm associates?

Keep your eye on deals coming down the pipeline. At Wilson Sonsini, there was a daily deal sheet showing the new clients and matters opened by partners across the firm. I would get to work really early and scour the upcoming deals. When I found something I was interested in, I would approach the partner on the deal and offer my help. I would suggest that you be as engaged as you can. You can go to work and push papers and get the hours that come your way, or you can take a step outside your office and find opportunities.

What is the best part of working at a start-up?

The best part of working at a start-up is that there are no established ways that things have to be done. The pace is quick and there are always interesting issues that may be similar to ones you’ve seen before, but are new twists that require you to think on your feet. It’s never boring.

As Chief Counsel for a start-up, how involved are you in business development?

Very. In-house counsel is usually involved from the conception of ideas to the eventual development of the product and beyond. The level of involvement depends a lot on the size of the company and the level of the attorney, but it’s generally much more involved than outside counsel.

What advice do you have for students and other young people beginning their career?

Treat people well, not just those that you think are in a position to help you enhance your career. While it’s not certain that this will lead to more career opportunities, it will lead to a much more fulfilling life.

– Colleen Honigsberg, AVP Communications 2009-2010

Apr
1

The InSITE alumni network is comprised of more than 180 alumni who are employed in various industries across the globe. The three most common industries that alumni have matriculated to are financial services (34% of alumni), consulting (21% of alumni) and media/technology (19% of alumni).

Employers of InSITE alumni include renowned firms such as:

Amazon
American Express
Bessemer Venture Partners
Boston Consulting Group
DFJ Gotham
Goldman Sachs
Google
Governing Dynamics
H.I.G. Capital
IBM
JP Morgan
Latham & Watkins
McKinsey & Company
Morgan Stanley
NGEN Partners
Pfizer
Rose Tech Ventures
Skadden, Arps, Slate, Meagher & Flom
Tishman Speyer
Unilever

In addition, several alumni have gone on to found or join startups in New York City and various cities across the U.S.

Vapps LLC
Submedia
BuyWithMe.com
Lab126

For continuous news on current and alumni Fellows, please visit the Fellow News section of our blog. Our most recent Alumni classes are listed here.

– Shawn Khazzam, VP Alumni 2009-2010

Mar
30

The resurgence of the New York technology entrepreneurship and start-up activity coincides with the 10th Anniversary of InSITE. The recent wave of innovation and the influx of talent from around the world serve to illustrate what InSITE has known since its inception – New York is the best city in the world to start a business. InSITE is proud to have been an integral part of this community for the past decade.

On Tuesday, April 13th, InSITE (Investments from Student Interaction with Technology and Entrepreneurs) is celebrating its 10th Anniversary, hosting its current Fellows and alumni.

With its first class graduating in 2000 and always comprised of MBA and JD students from Columbia and NYU Business and Law Schools, the program has grown significantly in size and scope over the past decade. InSITE Fellows are selected each academic year though a competitive application process, and only a fraction of those who apply are accepted based on their interests and demonstrated experiences in an entrepreneurial or venture oriented career. This year, the organization received more than 150 applications for 24 new Fellow positions.

Led by Chairman Paul Tumpowsky (CBS/InSITE ’00), each semester InSITE Fellows source a group of early stage New York startups for its advisory program. Over the past decade, teams of Fellows have worked with more than 100 New York startups to help them better articulate their businesses, refine their strategy and sharpen their value proposition. InSITE also hosts a variety of programs, including term sheet negotiations and a speaker series which has included prominent venture capitalists Alan Patricof and Fred Wilson, and supports New York Angels through their Future Angels initiative.

The program has been enormously successful for both the student Fellows and the companies that have completed the process. Since 2000, InSITE companies have raised more than $170 million in venture funding. Notable InSITE alumni companies include Vindigo, Broadview Networks, ON Networks, Hycrete, Recycle Bank, Hopstop, FlavorPill and Organic Motion.

InSITE Fellows have pursued careers in a variety of industries, including investment professionals at venture funds including Bessemer Venture Partners and DFJ Gotham, attorneys from in-house counsel at Amazon’s Lab126 to Wilson Sonsini and Skadden Arps, management consultants at McKinsey & Company, investment bankers and, of course, entrepreneurs.

Recently, Alex Ferrara (CBS/InSITE ’04) was promoted to Partner at Bessemer Venture Partners, and Andrew Moss (NYU JD/InSITE ’01) the Founder and CEO of BuyWithMe.com, raised a $5.5 million Series A Round from Matrix Partners.

InSITE Fellows, Alumni, its Board of Directors and invited guests will gather on the 13th to celebrate the organization’s successes over the past decade and elect the next group of student leaders to manage the organization though another successful year.

InSITE is sponsored by Wilson Sonsini Goodrich and Rosati, the preeminent law firm focused on early stage technology businesses, as well as a number of top venture capital firms: Canaan Partners, Contour Venture Partners, DFJ Gotham, Greenhill SAVP, Investor Growth Capital, Kodiak Venture Partners, Milestone Venture Partners, and RRE Ventures.

For more information on InSITE Contact:

Paul Tumpowsky
212.999.6200
Paul.Tumpowsky@InSITEny.org

Mar
26

On Friday, April 9th, the NYU Venture Community (led by InSITE Alum Chris Gimbert and InSITE Fellow Nick Hurley) and Columbia Venture Community (led by InSITE Alum Mark Davis) will be co-hosting the first annual NYC Startup Job Fair at AOL’s headquarters*.

The purpose of the event is to help build the NYC startup and venture community by bringing together graduate, undergraduate and recent alumni from NYC-based universities and numerous venture-backed and bootstrapped startups from the NYC area.

NYC Startup Job Fair Details
Where: AOL HQ (770 Broadway)
When: Friday, April 9th 2010
What Time: 1:00PM – 4:00PM
Learn More: http://nycstartupjobfair.com

Students and recent graduates:
All are welcome. Please RSVP if you would like to attend.

Startups:
The event is open to any NYC-based startups that are interested in adding interns or full-time hires to their team. Due to space constraints and to ensure quality opportunities, each startup must take a few moments to fill out a brief application that includes a general business description and the envisioned role(s) for any recruited students or graduates. To access the application as well as additional details about the event, please visit nycStartupJobFair.com.

*AOL is located at 770 Broadway @ 8th street

Mar
12

youngStartup is one of my favorite organizations that promotes connections between VCs and entrepreneurs. Wednesday, March 10 was their “VC Outlook” event for both tech and bio. The group is run by founder Joe Benjamin and I had the pleasure of volunteering for the life sciences portion which was also organized by Adam Negnewitzky, Joe’s Senior Associate.

Before I mention the VCs that were there and the interesting topics that came up, I have to gush a little about the other volunteers I met. youngStartup puts on the type of conference where it’s easy to strike up conversation with those around you. I built an entire network with the other volunteers within my first five minutes helping out at the registration table. I have to say, Adam has an army of helpers that are passionate about VC and entrepreneurship. I met some great people from Columbia, Ross, and other schools. There was even another InSITE Fellow, Jon Cooper, volunteering there, as well one of my Stern classmates, Steve Estes (all three of us had skipped VC-related classes to attend a VC conference, which I found pretty ironic. I guess that’s entrepreneurial spirit for you).

The life sciences panel included: Brandon Hull (Cardinal Partners), Noah Kroloff (NGN Capital), Andrew Schneider (Holtz Rubenstein Reminick LLP), Robert Seltzer (Care Capital), Anthony Sun (Aisling Capital), Nicole Vitullo (Domain Associates), and Kevin Collins (Goodwin Procter LLP) as moderator.

Much of the discussion was driven by audience questions, so naturally some topics came up that are common at other bio/pharma-related VC forums (healthcare reform, trouble forming syndicates in the current market, etc). I’ll try to list a couple that I thought were unique to this discussion in particular.

One interesting comment was about business development in Big Pharma. Yes, we all know Big Pharma has a lot of cash, and yes we all know that just because Big Pharma has a lot of cash it doesn’t mean they’ll buy just anything. But there was an observation about how start-ups gain champions within the pharma BD department.

It was observed that there is a bimodal approach to how acquisitions get pushed through the BD department: If you’re a young person in pharma BD, you are willing to champion something and push your company to buy it. In this case, your reputation isn’t on the line because the risky acquisition target still has 10 years development time left and there won’t be any noticeable failures in the near term.

In the second situation, you’re a more established, older BD professional and you only champion acquisitions that have drugs that have already been approved. In this case it’s safer and poses less risk to your career. The panel noted that they see less deals fall into the middle of these two approaches, thus the “bimodal” aspect of pharma deals.

Another interesting topic that came up was the issue of tech transfer. You thought healthcare reform was controversial? There was definitely some thick tension in the room when this topic came up. Why is tech transfer too spotty? One entrepreneur hotly noted, “We have SBIR grants and other grants that validate our science, but universities will show favor to other, less developed ideas with unproven science. Why?” Heads nodded in the room. Good point.

The answer seems to be that simply, some universities are better at this than others. Some are organized, well-run machines while others are spotty and don’t seem to have “best practices” that they follow. This problem feeds into overall VC environments, helping to explain why some cities become spin out powerhouses while other cities with high caliber of universities, do not.

More information: youngStartup Ventures

– Marisa Tricarico

Mar
7

BuyWithMe, an online “group buying” site based in Boston announced last month that it raised $5.5 million in Series A funding from Matrix Partners.

BuyWithMe’s founder and CEO is InSITE alumnus Andrew Moss (NYU JD ’01). Andrew discussed his experience running BuyWithMe, and the decision to raise venture funding with InSITE:

The BuyWithMe Concept
BuyWithMe partners with local merchants to offer group discounts on its website to consumers in target cities (currently Boston, Washington D.C., and San Diego). Consumers indicate if they are interested in a deal through the website. Once a certain minimum people sign up, the deal activates, customers are charged, and BuyWithMe sends a link to a printable voucher used to redeem the discount.

BuyWithMe positions itself as a win-win for both consumers and businesses. Consumers get discounts at stores in their local areas. Merchants get new customers, advertising on a website targeted at local shoppers, and guaranteed volume.

Moss explained how BuyWithMe functions as a new advertising medium for businesses which have traditionally been limited to newspaper or radio ads. Unlike newspaper and radio ads, however, BuyWithMe is much more highly targeted to consumers who are actively looking to shop, and offers a superior ability to track and quantify the success of a promotion. Businesses also do not pay unless the promotion works and the targeted number of shoppers sign up.

In this respect, BuyWithMe is similar to other online “flash sale” companies, most notably Gilt Groupe, which is also funded by Matrix Partners. Unlike Gilt, however, BuyWithMe is locally targeted, focuses on driving guaranteed store visits rather than shipping merchandise online, and covers many industries besides apparel.

Founding BuyWithMe
Moss’ background as a corporate lawyer and hedge fund manager isn’t typical of most entrepreneurs, but prior to starting BuyWithMe Moss already been involved in entrepreneurship. While at college, Moss and a few friends started a business making custom t-shirts and merchandise – an effort that eventually evolved into customink.com. While Moss left the business relatively early to enroll in law school, he said that a lot of the knowledge and unit economics of Customink transferred to BuyWithMe. The experience also contributed to Moss’ decision to leave his day job to run BuyWithMe full time. “I didn’t want to miss out again,” he said.

Moss discussed how one of the biggest challenges starting out was getting initial traction in Boston. In a classic version of the chicken-and-the-egg problem, merchants were reluctant to sign up before BuyWithMe had an established user base, but user growth in turn was largely dictated by the number of deals on the site. A well-timed partnership with Boston.com tipped the scales for BuyWithMe, driving enough traffic for BuyWithMe to gain momentum. Currently, Moss is focused on trying to scale the concept nationally, with launches in new cities expected soon.

Securing Funding
Moss was initially cautious about seeking venture funding, influenced by the notion that certain companies benefit minimally from venture funding, and the fact that Customink succeeded despite raising minimal venture financing in only one round.

Despite being approached by numerous other firms, Moss took the initiative and reached out to Matrix Partners largely because of their experience with e-commerce generally, and online sales and group purchasing in particular. “In my opinion BuyWithMe is part of a select category of businesses where VC expertise can really add a lot of value,” Moss said. “[Matrix Partner] Nick Beim was a huge value-add. He made lots of introductions and offered insightful advice based on his experience with Gilt.”

Moss also discussed some of the differences between advising entrepreneurs on the fundraising process as an InSITE fellow and actually going through it as a company founder. “One of the biggest differences was the importance of the personal relationships,” Moss said. “It’s really important to have people who not only give you money, but who are trusted advisors with whom you want to spend time working. We didn’t want to just raise capital, we wanted intelligent capital.”

Moss believes his business background and experience with the pitch process from InSITE was helpful while raising funding. “It was great to not have to learn to pitch on the fly,” Moss said. “Many companies come in with a great idea but are still working on the business process. Having a coherent pitch on the viability of the business impresses VCs and helps your case.”

– Alessandro Presti

Mar
7

InSITE fellows Mike Katz, Gregory Pennington, and Shirley Xu are part of the five-member team Smeagle & Cup that was chosen to represent Columbia Business School at the Fifth Annual National Sustainable Venture Capital Investment Competition, taking place at UNC, March 19-20, 2010.

To reach nationals, team Smeagle first competed in the Columbia Venture Capital Investment Competition. In that competition, an initial field of more than thirty teams was narrowed down to seven that participated in Finals on February 12th, 2010.

To prepare, the teams were given business plans two days in advance of Finals. On competition day, teams conducted blitz eight-minute due diligence sessions with each entrepreneur and negotiated a term sheet with their favorite investment prospect.

The competition was judged by an exceptional panel composed of Somak Chattopadhyay (VP, Greenhill SAVP), Sarah Tavel (Senior Associate, Bessemer Venture Patners), Charlie O’Donnell (Entrepreneur in Residence, First Round Capital), Owen Davis (Managing Director, NYC Seed), Raymond Thek (Vice Chairman, Lowenstein Sandler), Matthew McCooe and Chris Brady (Chart Venture Partners), and David Birnbaum (Alloy Media + Marketing).

The judges were impressed by the whole field and praised team Smeagle in particular for its negotiation skill, understanding of deal terms, and rapport with entrepreneurs.

– Shirley Xu and Greg Pennington

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