Do Movie Stars Make Good Investors?
Many of you have heard the good word by now, that blist recently closed a series A funding round, led by Morgenthaler Ventures and Frazier Technology Ventures. Two really smart men, Ken Gullicksen and Scott Darling, have joined our board and are already making great suggestions to improve the product and grow the company.
What most of you don’t know is that I almost had a movie star investor in MessageRite, my first company. The first salesperson I hired at MessageRite became really excited about our potential and asked if I was looking to raise any capital. A little baffled, I told him that I was talking to a consortium of angel investors. He then told me who his best friend was and that his friend is always looking for places to invest some money. The two had been best friends since 1st grade and have remained close through the years. I agreed to explore the idea.
The size of investment this guy was looking to make was very large. In one shot, I could raise more than I could with 20 or 30 angel investors. That would be great, I thought. At the last minute, he accepted a part in a film being shot in Europe and apologetically backed out (but gave me a bunch of autographed 8 x 10’s for my kids). Disappointed initially, I toiled on and everything worked out fabulously.
Now that we have real investors at blist, I’m recognizing how fortunate it was that Mr. Movie Star hadn’t invested in MessageRite. When you write a big check, you often get a board seat and some influence. It’s wonderful having the influence of two skilled and successful businessmen as directors at blist. I could only imagine the randomizing advice I would have received at MessageRite had our primary investor been Mr. Hollywood. It’s funny to think about now.








