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If you have a start-up profile on AngelList you might have noticed a few "roles", or buckets that you can use to add other folks or institutions to your company's profile. Some of them are quite self-explanatory, like:

  • Team
  • Previous Investors, and
  • Incubators

But some a bit more ambiguous:

  • Advisors and
  • Referrer

There's also a group of "Followers". It is safe to assume (given previous training by Twitter) that the FOLLOWERS are the people that somehow heard about you or your start-up profile and decided to "follow", i.e. see your updates in their stream, but what are the last two groups?

So here are a few questions that I can't seem to find the answers to on AngelList:

  1. Why Advisers are plural and Referrer is singular? Just a spelling inconsistency of there's more to it?

  2. What should your expectations should be of each, besides them spicing their own profiles?

  3. What should the reasonable expectations of such supporters be?

  4. How does one go about securing one of those on AngelList? Or are those BYOA/BYOR? In that case, again it seem to benefit AngelList more than the start-up... I was recently approached by one of the followers with request for a contract and "...with payment amount that you/your company can afford for my time..." Naturally I had to decline that offer.

  5. AngelList is growing very fast with just about anyone jumping on board. I noticed "review" option, which only appears to be a "positive reinforcer", i.e. "Say only if you have something positive to say. If you have negative -- hold your peace". It might be obvious but I'll say it anyway, with just one-sided feedback system there's no room left for objectivity, which is kinda strange for the team that created Epinions.

Anyway, since AngelList does not have FAQ or a forum where such questions could be asked (hint), I again reserve to this great service. If you have any answers to any or all of these questions, please feel free to just in. Please use the number of the question, if possible.

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2 Answers

up vote 2 down vote

Why Advisers are plural and Referrer is singular? Just a spelling inconsistency of there's more to it?

Who told you about AngelList / referred you into the community? That's the Referrer, usually one person.

What should your expectations should be of each, besides them spicing their own profiles?

When they confirm their involvement, their investor followers are notified, which will help you get followers and introductions. They can also share your startup with a note as to why they are advising you or referred you.

How does one go about securing one of those on AngelList? Or are those BYOA/BYOR? In that case, again it seem to benefit AngelList more than the start-up... I was recently approached by one of the followers with request for a contract and "...with payment amount that you/your company can afford for my time..." Naturally I had to decline that offer.

That's a bring your own - these are offline relationships that the startup should already have.

AngelList is growing very fast with just about anyone jumping on board. I noticed "review" option, which only appears to be a "positive reinforcer", i.e. "Say only if you have something positive to say. If you have negative -- hold your peace". It might be obvious but I'll say it anyway, with just one-sided feedback system there's no room left for objectivity, which is kinda strange for the team that created Epinions.

We do allow negative reviews but suppress the text of those reviews as sometimes it can be jarring / harsh. However, we do count the negative reviews in the overall score "2 out of 3 people..." etc. It's a compromise - there's no perfect solution here.

Yes, we do need an FAQ... will work on it.

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The answers above clarify those questions, thanks. However, one more question, in general and NOT being in the right place at the right time kind of scenario. So, is it safe to assume that if you are a one-person gig, at the moment when you stumble upon AL, as opposed to being tagged by someone with connections, there's little benefit of being listed?.. – usabilitest Aug 27 '11 at 22:01
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As far as reviews, when I shop on Amazon, first I check out negative reviews, then positive during my purchase decision process... Reviewers can be reviewed as well, and credibility should be reflected in their profile. – usabilitest Aug 27 '11 at 22:08
up vote 1 down vote

It's pretty clear to me. Referrer is whoever told you/endorsed you to put your profile on Angel List. Yes, it's bring your own, and no, it doesn't really benefit Angel List, because if the person referring you is not in some way famous (aka a player), then don't bother listing them anyway. It's all about social proof.

To pique the interest of investors on Angel List, you need one of two things: amazing traction (my startup is profitable, we are growing 30% per week and we made $50K last month), or, if you don't have user traction yet, social proof (I pitched my startup to Ron Conway and he signed us a check of $50K).

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Thanks, it makes sense. When I said it would benefit AL I meant we bring it to attention of potential new users/members. And to clarify, in your opinion referrer is who sent you to AngelList? I personally was divided between this and other members on AL who would mention your start-up to others, sort of endorsers/promoters. But I think you're probably more correct in this. One more case for adding "tips" or info bubbles on AL to clear this ambiguity. Thanks. – usabilitest Aug 27 '11 at 17:23
Thanks Alain. I would add two more things that tend to get investor attention on AngelList - first to market with a unique / technically differentiated product (i.e., see OcuSpec or GreenGoose), and / or a heavily branded and well known team (i.e., see Locu). As in all things, these are imperfect judgment calls. – Naval Aug 27 '11 at 21:40

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