Sending the loom and memo with Conrad’s own explanation of his product meant that the partners could get Conrad’s vision directly from him. An entrepreneur meets with a venture firm partner, who then in turn has to deliver their version of the pitch to their partners to try to get their buy-in or interest in a deal. Traditionally, pitching a venture firm is a game of telephone. Andreas Klinger 🏝 March 22, 2021īut it also has the added bonus of being a way to control how your startup’s story is told, said Conrad. This is the kind of future I want to see. Just received a startup pitch as async loom video from a founder who had his 3 months old baby strapped around while he explains the business. It even has its own catchphrase - “Loom, Zoom, Room” - thanks to angel investor Jason Calacanis. During the pandemic, VCs have embraced Loom videos as a way to get an overview of a startup or its product before even committing to a “get-to-know-you” meeting over Zoom.
It’s in part a time-saving maneuver and a way to get in front of more investors during a funding round. As part of raising $250 million at a $6.5 billion valuation in Rippling’s last funding round, Conrad sent VCs both a 13-page memo and a 39-minute product walkthrough that Conrad recorded on Loom. That’s why more entrepreneurs like Conrad are turning to tools like Loom to record their pitches and demos instead. And so if you’re sending slides without that, it’s a terrible way to convey information.” “Any slide that you put together is meant to be accompanied by your voice track. “It’s like sending someone a song and some of the tracks of music are missing,” Conrad, the co-founder and CEO of HR startup Rippling, told Protocol.
He’s raised money for three different startups, and sending investors slides of a pitch deck feels like sending them only half a presentation, he said. Parker Conrad has come to deeply loathe PowerPoint slides.
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