February 2024

Hey fam,          

I am a day late with this update. Yes, that made me uncomfortable. BUT WE'RE LIVE!        

Our first deal dropped Thursday.  We got WOWs on our deal memo format and a "that was almost too easy" from one of the first investors!  Props to the team for a bulletproof end-to-end experience. If you are an active or aspiring angel, get on in here! Sign up. It's free.

Play Money is a modern commerce experience for a new generation of angel investors.  We match Angels with high-quality early-stage deals they are most likely to love and then make it easy to share their favs with friends. 

(Besides shipping) what happened in Feb:         

• Grew signups 40% m/m         

• Ran 4 live sessions & booked our first angel group onboarding. Turns out Angel is the new bookclub AND the new fantasy football.         

• Hiring: Added 2 new devs (welcome Alex and NuNo!) and spent A LOT of time recruiting for our front-end roles incl. Chief-of-Staff (cringe, but I need a force multiplier bad!)

On Tap for March         

• 500 investors on the platform. This means sign-ups plus upleving onboarding.      

• UI cleanup and product-led growth features.          

• Build a more structured process and pipeline for platforming communities and angel groups.          

Something we're excited about:  In response to some questionable stuff we've seen in the broader SPV market, we are doing two things different than everyone else. 1) We are posting the underlying SAFE document on every deal. 2) We are experimenting with a green/yellow type of transparency into the cap-table and terms of every deal. Early support has been fantastic.         

Big Thanks: 🎉  We had 6 new angels invest *in* Play Money in February. They came in swinging. Big props to Haley for recomending Dopl • Holly for fast-tracking a mtg with one of our top-5 partner prospects • and Paul for incredibly actionable feedback and a pipeline of next-level intros. We are scheming a Play Money angel meet-and-greet to kick off Q2 that has us excited.         

Finally thank you to Roger, Illia, Val, Tanya, Alex, NuNo and Sean on the launch and to Ryan and his team at Dopl for being first.

-- Cheryl & Jill