Many people make it big after a slow and steady…
Most entrepreneurs wait to start their business and seek funding from investors until after they develop a hit idea. However, Itay Adam has turned that process on its head by securing $2 million in a seed round by presenting a 40 minute presentation about absolutely nothing. He’s banking on the hope that inspiration will strike later to help him create a flourishing business.
His presentation was a carefully crafted stand-up comedy routine, consisting of just 18 jokes and five slides. His pitch involved a plan to build a team of veterans to work together and create the next world-changing idea together. Adam himself brings over 22 years of experience with internet marketing to the table, and apparently was convincing enough to sell the private equity firm that lent him the investment money without a clear concept.
The investors likely felt comfortable with the idea because Adam is planning to only hire experienced, older employees with track records behind them. This is a major break from the trend of staffing inexperienced but energetic 20-somethings willing to work 16 hours a day. He did promise to focus on entertainment for his new groundbreaking idea, so consumers across the globe may soon know his name if he manages to pull off this strange plan.