Lessons I Learned While Raising Funding: A Look into Shopline’s New US$1.2 Million Seed Round by Co-Founder Raymond Yip


Today Shopline announced closing it’s seed round of US$1.2 million! Congrats Team Shopline – Raymond, Tony and Fiona! Some more details include:

  • Completed the 500 Startups Accelerator program in San Franciscoseveral months ago (Batch 10).
  • funding will allow Shopline to positionitself as the go-to online shop builder in Asia, beginning with Hong Kong and Taiwan.
  • looking to expandinto select markets in SEA later this year.
  • Investors include 500 Startups, Ardent Capital – founding investor of aCommerce, SXE Ventures –an early stage fund by Danny Yeung, co-founder of Groupon HK, East Ventures and COENT Venture Partners.

We asked Raymond Yip, co-founder and CEO to expand on what he learned raising this money to share with Hong Kong startups.

[Read more…]

echelon 2010 Wrap Up Part 2 – Singapore vs. Hong Kong vs. Asia

At first blush, there is a lot in common between Hong Kong and Singapore. Both are small countries with large populations, started as a trading port, and turned into financial hubs. But, looking into the startup ecosystem and communities of both, there are still many similarities, but it seems like Singapore is perhaps 5 years ahead of HK on the development timeline. 

Seed Funding

Similar: Both have government funding available along with various ways of helping to incubate or otherwise support startup companies. 

Different: In Singapore, if you ask, you can usually get $50K SGD ($300K HKD) for starting a company. In Hong Kong, the best we have at this level is the FFF (Family, Friends, and Fools). If Hong Kong is going to grow a vibrant and robust startup ecosystem, we need to find some way to fill this seed funding gap.  [Read more…]

@davemcclure at Seed Startup Panel (Twitter Feed Recap)

 I came across this feed of posts by Dave at a Seed Funding panel at the Founders Fund. It is a good summary of several incubators and seed level funds, including the amount invested and what that investment carries with it. It is a bit difficult to find the concise thread on Twitter, so just reposting it here to make it easier to parse.

    1. Dave McCluredavemcclure 

      #FOF Incubator Panel </FIREHOSE OFF>

    2. Dave McCluredavemcclure 

      #FoF @davidcohen: “the scarce resource in incubators these days isn’t $25K… it’s [good] mentorship”

    3. Dave McCluredavemcclure 

      #FoF @TheFunded: “when i was a young man at IdeaLab, we had to walk 5 miles uphill to school (BOTH WAYS!)”… 😉

    4. Dave McCluredavemcclure 

      #FoF @TheFunded : “I don’t need to make money… i just want more rainbows & unicorns!”

    5. Dave McCluredavemcclure 

      #FoF @davidcohen#TechStars exits: SocialThing (AOL), IntenseDebate (Automattic), BrightKite (Limbo), FilterBox (Jive)

    6. Dave McCluredavemcclure 

      #FoF @TheFunded “170 companies enrolled in Founders Institute, so far we have 41 graduates”

    7. Dave McCluredavemcclure 

      #FoF @rsohoni “for #seedcamp, we like to make expert svc providers avail but leave it to entrepreneurs to make decisions”

    8. Dave McCluredavemcclure 

      #FoF quotable @TheFunded “most commercial real estate incubators are douchebags… at 30% vacancy rates, lots of folks are incubators”

    9. Dave McCluredavemcclure 

      #FoF @TheFunded:Founders Institute did ~40 last year, aiming for hundreds this year (feeder to other incubator programs)

    10. Dave McCluredavemcclure 

      #FoF @TechStars does 30 startups / yr (3 cities); @seedcamp 10/yr (moving to 15/yr); @bootuplabs does 6-8 /yr

    11. Dave McCluredavemcclure 

      #FoF @rsohoni EU-based incubator @seedcampinvests 30K-50K Euros (~$50-80K USD) for 5-10% preferred

    12. Dave McCluredavemcclure 

      #FoF @dannyrobinson says @bootuplabs uses $150K conv note w/ $850K cap (founders must take $50K; rmng $100K at founder optn)

    13. Dave McCluredavemcclure 

      #FoF @dannyrobinson saying that @Techstarsreally investing more like $30-50K if you count services / facility etc

    14. Dave McCluredavemcclure 

      #FoF quote @davidcohen: “@Techstars works best in places w/ chip on its shouldr” (transltn: we’re not in Silicon Valley 😉

    15. Dave McCluredavemcclure 

      #FoF @davidcohen @Techstars puts in $6K per founder (max $18K) in exchange for ~6% common