When a client at his creative firm asked to buy outdoor ad space adjacent to locations of every Bed, Bath and Beyond store in New York City, John Laramie realized how inefficient the outdoor ad buying process was. In order to scout the locations for his client, he had to get on his bicycle and physically pedal to every store in the city. With his legs aching, and sensing that there had to be a smarter way to do it, he founded ADstruc, an online buying platform for outdoor advertising.
Laramie and his team built a viable platform and applied for admission at TechStars Boulder. They were admitted, moved to Colorado for three months and graduated with a term sheet in hand. Though the sheer amount of advice from mentors can be overwhelming, Laramie and his team agree that they are better off after going through the program.
Check out our interview with Laramie and learn about his tips for communicating with investors (hint: build a relationship before you’re ready to ask for financing), what investors look for in a company at the seed stage and how ADstruc educates potential buyers before selling to them.