In the world In terms of investing, a “party tour” is an investment round – usually an angel round – where more angels throw what (for them) is a pocket change to help the company take off. “Sine change” is relative, of course; What a pocket change for a high net worth individual could be a down payment on a home for you and an annual salary for me.
about a year ago, Alex It reported that Party Round raised $7 million using its own platform, adding a midsize busload of angel investors to its cap table. Party tours usually revolve around who you know (and who’s willing to bring to the table) more than anything, but having a decent story and narration is still crucial.
The Party Round was ready to share their collection with me, so let’s take a closer look at what the founding team did to shake enough trees to make $7 million in gravity-successful apple money.
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Slides in this group
The Party Round deck of 10 is by far one of the tightest decks I’ve seen. She shared her entire collection without edits or revisions. Cute – good.
- cover slide
- logo slide
- solution slice
- value support bracket
- product slice
- Competitive Advantage Segment
- “why now?’ sliding
- task slide
- team slide
- Slide close
Three things to love
The Party Round brings a lot of things into place. I love the design and I especially love the scarcity of words. Hell, the entire collection contains only 148 words. this is no thing. The company raised $7 million with 148 words. That’s $47,000 per word. These stand breakups are usually 2,200 words, and I haven’t checked my stub in a hot minute, but I’m pretty sure TechCrunch isn’t paying me $100 million per article. Then again, I’m not widely known for my brevity.
So, aside from being crisp and to the point, what else does Party Round get for?
She knows what she’s doing. He knows who is doing it.
There’s something refreshing about a company that knows what you’re doing, who you’re working for and what your value proposition is; And it’s all here, on the slide, succinctly and simply. There is beauty and clarity here, and there… There really isn’t much to say! I wish every founder I spoke to had that level of overview and focus.
Press, press, boom.
In slides 4 and 5, the company outlines the process for founders and investors. It’s as easy – if not easier – than creating a crowdfunding campaign. For the founders, you create the round, configure the SAFE terms, invite the investors and your mom’s brother Bob. For investors, the invitation opens. If you are a subscriber, you write down the amount you want to invest, sign the investment notes and transfer the money. It seems so simple!
Excellent context for the market!
Investors rarely invest in a single data point, contextualizing “why now?” For the company is critical. The company rightly notes that it captures the zeitgeist. So she did so with remarkable restraint. There is no mention of NFTs in sight.
Retail investing has been massively transformed by the adorable world of Robinhood, and Coinbase has put cryptocurrency investing in scope even for people who don’t want to spend time figuring out what a digital wallet is and how many words you have to remember to create one.
I’m not 100% excited about this group. In fact, from the heart, I’m really struggling to understand how this company managed to raise any money at all, let alone $7 million. In the rest of this teardown, we’ll look at three things the Party Round could have improved or done differently, along with the full playing surface.