This Company Flew Single New Yorkers to San Francisco for a Love Connection
“There's a running joke that there are more single men in San Francisco and more single women in New York City," says Lauren Kay, a co-founder and CEO of matchmaking startup Dating Ring. "So we thought it would be fun if some of them met each other.”
The stunt—their business model doesn't actually fly out singles on the regular—attracted a ton of attention and investment. Kay spoke to OPEN Forum about the Dating Ring and what it's really like to be a woman entrepreneur raising funds.
What was it like to fundraise with Y Combinator and afterward?
It was really hard! Demo day with YC is insane—there are hundreds of investors on the floor. It felt like this weird speed dating event where you ask people for money. I was super uncomfortable.
After demo day, I was determined to land additional investment to grow Dating Ring, so I'd go on up to seven meetings per day with angel investors and VCs. Some of them were awesome. After 15 minutes, one investor offered us money because he believed in our vision right off the bat. But other investors would ask me out on dates or openly ask when men would be brought into the company. I had no idea the sexism in Silicon Valley was so bad.
What advice can you offer other female founders to get through it?
Look for investors who aren’t known to be sexist. Talk to other founders that you trust and only take meetings with VCs who have a track record of respecting women. Don’t put up with anything, and leave meetings if you're uncomfortable.