In the world investment, a “spin round” is an investment round – usually an angel round – where a larger number of angels throw in what (to them) is loose change to help get a business started . The “pocket change” is relative, of course; what is small change for a very wealthy person could be a down payment on a house for you and an annual salary for me.
About a year ago, alexander reported that Party Round raised $7 million using its own platform, adding a busload of mid-sized angel investors to its cap table. Usually, party rounds are more about who you know (and who they’re willing to bring to the table) than anything else, but having a decent story and narrative is still crucial.
The Party Round team was willing to share their deck with me, so let’s take a closer look at what the founding team did to shake enough trees to cause $7 million worth of silver apples to succumb to gravity.
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Slides in this deck
Party Round’s 10-slide deck is by far one of the tightest decks I’ve seen. He shared his full game with no edits or redactions. Pleasant.
- cover slide
- Tagline slide
- Solution Slide
- Valuable Accessory Slide
- Product slide
- Slide Competitive Advantages
- “Why now?’ drag
- mission slide
- Team slide
- Zipper closure
three things to love
Party Round gets a lot of stuff in its deck. I like the design and I especially like the rarity of the words. Hell, the whole game only has 148 words. It’s nothing. The company raised $7 million with 148 words. That’s $47,000 per word. These pitch deck teardowns are usually 2,200 words long, and I haven’t checked my pay stub in a hot minute, but I’m pretty sure TechCrunch isn’t paying me $100 million per article. Again, I’m not well known for my brevity.
So, besides being clear and to the point, what else is good about Party Round?
He knows what he’s doing. He knows who he is doing it for.
There’s something refreshing about a company that knows what it’s doing, who it’s doing it for, and what the value proposition is; and it’s all there, on the slide, succinctly and simply. There’s beauty and clarity here, and there really isn’t much more to say! I wish every founder I spoke with had this level of overview and focus.
Tap, tap, boom.
On slides 4 and 5, the company outlines the process for founders and investors. It’s as simple, if not easier, than creating a crowdfunding campaign. For the founders, you create the round and set up the SAFE conditions, you invite your investors, and Bob is your mother’s brother. For investors, you open the invitation. If you are there, you type in how much you want to invest, you sign the investment notes and you transfer the money. It seems so simple!
Excellent market context!
Investors rarely invest in a single data point, and contextualize the “why now?” for a business is crucial. The company rightly points out that it captures the spirit of the times. He even did so with remarkable restraint; there is no mention of NFT in sight.
Retail investing has evolved tremendously in the gamified world of Robinhood, and Coinbase has brought crypto investing within reach even of people who don’t want to spend time figuring out what a digital wallet is and how many words you must remember to create one.
I’m not 100% thrilled with this deck. In fact, hand on heart, I really struggle to understand how this company managed to raise funds, let alone raise $7 million. In the rest of this teardown, we’ll look at three things Party Round could have improved or done differently, along with its full pitch deck.