FileInvite has reached oversubscription with $900k in this $750k round. CEO James and champion Garth want to go past $1M to have plenty of fire power for their go to market.
Zino Ventures & China
Zino held their first workshop in 2018 this week. Rudi presented FKA's ways of working, James pitched FileInvite following detailed discussions in the previous week. Like FKA, Zino don't charge fees. Thye run incubation/acceleration programs for Kiwi startups that target China which is similar to our lower touch ADI.Clinic.
Here is Rudi's deck about FKA including one Supergirl and four Santas.
See James deliver his pitch in this video, no Supergirl or Santa here.
ADI.Clinic has kicked off
The first clinics in Takapuna and Auckland started this week. We have now scheduled out to the end of the year. With over 100 clinics we are set to give more than 500 FREE sessions in 2018 to help Kiwi startup founders. Helping them avoid pitfalls and progress faster. Already in the first week, we have met some interesting founders that Uli, our FKA Deal Flow Manager will be looking to pair up with a suitable champion.
BizDjo, our longstanding partners who were instrumental to our kicking off ADI.Clinic, ran into a spot of financial trouble following their aggressive growth. Good news is that staff, brand and all sites except GridAKL carry on as before, only now with the strong financial backing of new owners IWG. GridAKL has reverted to ATEED but all carries on as before with the same staff.
IWG plc, formerly Regus, is the global leader of the fast-growing Workspace-as-a-Service (WaaS) sector with nearly 3,000 locations in over 100 countries and 1,000 cities across the world. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. In 2016, it had 8,600 staff and £2.2b in revenues.
Our great respect goes to Jonah, Nick and Lachlan for having grown BizDojo and the co-working culture in New Zealand to this level. Absolutely awesome! Growth and cash flow don't make easy bedpartners, but saving the business and keeping it going by securing a rescue deal with IWG shows a gread deal of responsibility for staff and the local co-working movement. We love working with you guys!
Note, this article about liquidation relates only to the BizDojo entity operating GridAKL.
Craig Cotton from our sterling partner KPMG is cranking things up at the Innovation Council. At the end of last year he shared some of his vision with Rudi who was impressed, never easy to impress Germans. Craig kicks off 2018 with an exiting guest speaker whose TED talk has been viewed by nearly 50 million people. See it here and book to attend the half day event here. Also, beg Craig or Rudi for $100 discount code!
We all know how a great voice-over can make any company or product intro so much better. However, beware! Most of us simply don't know how difficult it can be. See the video for how not to do it.
Acquistion or Disposal Course
Rudi tells that one of his startups was in M&A talks recently. Strong interest from the corporate but then talks fizzled out. This week's news offers an explanation. The hitherto highly acquisitive corporate is into restructuring, shifting from an acquisition strategy to a disposal strategy.
Another reason why a potential aquirer can disappear and delay your EXIT.