We sent 3 applications in the last 18 months. We were invited to a personal interview two times. And rejected two times, with two contradicting reasonings given:
From: Paul Graham
Date: Apr 30, 2013 7:49 PM
I’m sorry to say we decided not to fund you guys. The problem was that your existing business of publishing streams seemed limited, but the new business of doing analysis on streams was so far no more than an idea.
From: Hale Kevin
Date: Nov 18, 2013 6:58 PM
I’m sorry, but we’ve decided not to fund Click2Stream. It was a difficult decision for us since you guys are clearly good hackers. What never connected for us was your vision and plans for the future of your product. We think there’s a enough opportunity in what you’re doing now, that you shouldn’t get distracted.
I think it’s obvious that startup founders have to do what they personally believe in. Because founders usually know (they have to know!) their market situation better than juries or mentors. They also should be able to predict or even create new market opportunities and market’s future much better than mentors.
We of course really, really appreciate each single one feedback we’re given and think about it very deeply.
But in the end the only one who is right are the customers (and the customer’s money). And we strongly believe in our vision, as it’s built on clear signs we’re getting from the market all the time.
For example, today we received three reseller requests from established companies (e.g. www.thewireguys.tv) walking the beat of the market for years. They talk with end customers every single day, face to face. And they are happy they have a new way to make their customers happy. They feel the market opportunity just like we do.
Maybe you remember the AirB’n’B story: In November 2008 Airbnb is accepted to yC on the premise they’ll change their AirBnB idea because Paul Graham thinks „the idea is terrible„. But they didn’t. And the rest is (rather recent and still ongoing) history.
So, we will stick to our mission – to change the purpose of security cameras. To bring high-tech computer vision technologies to masses. Maybe the vision is too big, but we see the signs it’s feasible every day.
I want to say a huuuuuuuuuge THANK YOU to all the people who support us along the way.
PS: We’re still raising money online via AngelList.
„First they ignore you, then they laugh at you, then they fight you, then you win.“ Mahatma Gandhi