| Over the summer I decided that it was time to try bootstrapping a company. It was slow going at first: designing the product, building the team, etc... But, over the past three months things have been accelerating quickly. This week, out of the blue, we received an acquisition offer. It's a good one, but, we're pre-launch and we really want to see what we can do outside of the confines of a more established company. If we're going to continue, it might be time to start exploring funding options. We have a fantastic team composed of programmers, designers, and writers/videographers with strong ties to our industry. Our tech team is already open sourcing parts of our framework and our media team has an audience of close to 100,000 for their board game review show/blog. Does anyone know of an Angel or VC with a soft spot for modern board games? Could you ask them to get in touch? investingincardboard(a)gmail(dot)com |
To start with I'd look at how many modern board gamers there are (also the rate at which that market is growing/shrinking), what percentage are going to be in your target market and at how much they'd be willing to spend on your product (assuming it's saas, if it's ad driven do the similar calculation based upon ad views).
Angellist has a lot of categorization data on angels so I'd recommend exploring that for angels that might be a good match with you. Starting the conversation with the fact that you've had an acquisition offer but want to looking at raising funding as an alternative will probably help you get attention.
If you want to remain independent you should also speak with your potential acquirer and see if that would be an option for them (i.e. either they fund you or alternatively acquire you but let you continue to run as a completely independent company.)