Early on in Product Hunt’s life, it became apparent how useful of a tool it could be for VCs looking to discover high quality and early stage investment opportunities. It’s also common for VCs to invest in companies their trusted colleagues have vouched for. We decided to utilize PH data to connect these two situations, and notify investors when their portfolio companies begin to gain momentum on PH. By doing this, we allow them to notify their network of the performance of their investments in real time, while having the credibility of obtaining this info from an unbiased source. This allows other VCs to get in on the ground floor of growth and provides capital to founders just when they’ll begin to need it.
When a product receives >50/100/200 votes on PH, PH Momentum identifies its investors, founders, and advisors using AngelList data and a tweet is sent out to the product’s stakeholders, directing them to the PH post.
Investors can then retweet an investment to their followers in an unbiased voice.
Fellow VCs get high quality, realtime deal flow from trusted sources, startups get access to more traffic and potentially more capital, and PH improves as a tool for founders and investors to converse. Everyone wins.
There is no signup process, stakeholders get tweets by default. Opting out is as simple as blocking the twitter account.
Note: it is currently active and running - not many companies breaking the thresholds (50/100/200) today. We did a run for yesterday (resulted in 2 tweets as can be seen on the @phmomentum account)
In the future we’d like to:
- see if this experiment works well (people should end up retweeting + head to ph)
- craft more targeted status update copy & have more variety
- utilize images in the tweet to increase retweet likelihood
- communicate via mediums other than twitter
- determine best frequency for tweets/communication
- get data from multiple sources (crunchbase, mattermark, etc)
- let you know if the company is in the funding stage
- Provide insights into things like upvotes/retention rate ratios.
- monitor more sites.