Introduction: The Raising of Capital
In the fast-paced world of startups, funding is often the most challenging hurdle. For Equi, a company founded by Cory and Tony DeVito (also known as Tony Kushner), raising the capital to develop their revolutionary product was no exception.
"When I first started working at the company, I thought we were crazy for going after a $10 billion market," recalls Cory, now CEO of Equi. "But the reality is, in today’s economy, itâs not about how much money you think there isâitâs about how you can make it work."
The team, led by cofounders Sam L. and Joe O., decided to go all-in with $28 million from their own liquid net worth. This decision was met with skepticism from many within the company, but they believed in the vision.
"Angel investors are often the lifeblood of startups," says Sam. "But when youâre trying to raise money for a product thatâs going to change how people communicate on TikTok, Angel investors were exactly what we needed."
The Decision: A bold move with no guarantees
The decision to raise $28 million from personal savings was not taken lightly. It required weighing the risks and uncertainties of any new venture.
"When I first approached our bank about raising money," recalls Tony, "I thought it might be a good idea. But then I realized how much we all depended on this company. If something went wrong, not only would our employees lose their jobs, but so would my family."
The bank was hesitant at first, but eventually agreed to work with the team to structure the financing in a way that minimized risk.
"Angel investors are often the lifeblood of startups," says Sam. "But when youâre trying to raise money for a product thatâs going to change how people communicate on TikTok, Angel investors were exactly what we needed."
The Road Ahead: Building a Product That Changes Everything
Building a product that changes everything is no small feat. For Equi, it meant creating a TikTok-like app that allowed users to send money instantly.
"Angel investors are often the lifeblood of startups," says Sam. "But when youâre trying to raise money for a product thatâs going to change how people communicate on TikTok, Angel investors were exactly what we needed."
The Advice: How to Leverage Your network and Build Momentum
Equi’s journey offers valuable lessons for other startups looking to break into the fast-paced world of digital media.
"When I first started working at the company, I thought we were crazy for going after a $10 billion market," recalls Cory, now CEO of Equi. "But the reality is, in today’s economy, itâs not about how much money you think there isâitâs about how you can make it work."
The Result: A Product That Changes Everything
The hard work and vision of Equi’s team paid off when their app went live withstanding remarkable success.
"Angel investors are often the lifeblood of startups," says Sam. "But when youâre trying to raise money for a product thatâs going to change how people communicate on TikTok, Angel investors were exactly what we needed."
Conclusion: A Story of Boldness and Perseverance
The story of Equi is one of boldness and perseverance. It shows that even in the face of uncertainty, startups can find ways to succeed.
"When I first started working at the company, I thought we were crazy for going after a $10 billion market," recalls Cory, now CEO of Equi. "But the reality is, in today’s economy, itâs not about how much money you think there isâitâs about how you can make it work."
The Takeaway: Donât afraid to take risks
The advice for any startup looking to break into a competitive market is clear: donât be afraid to take risks.
"When I first started working at the company, I thought we were crazy for going after a $10 billion market," recalls Cory, now CEO of Equi. "But the reality is, in today’s economy, itâs not about how much money you think there isâitâs about how you can make it work."
The Legacy: A product that changes Everything
Equi’s story is just one among many of startups that are changing the world for the better.
"When I first started working at the company, I thought we were crazy for going after a $10 billion market," recalls Cory, now CEO of Equi. "But the reality is, in today’s economy, itâs not about how much money you think there isâitâs about how you can make it work."
The Legacy: A product that changes Everything
Equi’s story is just one among many of startups that are changing the world for the better.
"When I first started working at the company, I thought we were crazy for going after a $10 billion market," recalls Cory, now CEO of Equi. "But the reality is, in today’s economy, itâs not about how much money you think there isâitâs about how you can make it work."
