Show Me the Money: Follow-Up from the Venture Forum at Cyberport in November

Show Me the Money

				---	---		Aydin Senkut			Aydin Senkut, Founder and President of Felicis Ventures		San Francisco-based entrepreneur Justin Kan came up with a business idea three years ago to produce his own reality television show online. He pitched the plan to a potential angel investor: Aydin Senkut, founder and President of San Francisco-based Felicis Ventures. As Mr Senkut recalls it, the idea, and the young entrepreneur himself, made a strong impression on him. “I was impressed with the team’s dedication. Justin actually showed up with a camera attached to his head. That caught my attention. Here he was, willing to broadcast his life 24/7, which included a police visit to his home after someone made a prank call on him. I did, however, ask him to stop recording during the meeting,” he adds.			---		“Justin actually showed up with a camera attached to his head. That caught my attention”	Mr Senkut ended up investing US$200,000 in Justin.tv. “I did not want to invest in another YouTube. But everyone dreams of being on TV one day, and Justin.tv allows them to do that.” Since its inception in 2006, the venture has evolved into an interactive live video site that lets anyone broadcast and watch live video, with chat, for free. “Our feedback for the original plan was good,” says Mr Kan. “They said the product was cool, but that we [as characters in the reality show] were not that interesting.” Based on that, Mr Kan, along with his founding partners realised “we were on to something, but needed to refine the product.” Justin.tv now boasts 31 million users each month, broadcasting 40,000 programmes daily, with users creating content and broadcasting it live on justin.tv. Start-up Mecca				---	---			Experts discuss finding the perfect angel investor at the Cyberport Venture Capital Forum

via hktdc.com