Competitor just raised a $20mill series B with a few VC’s that could bring value to our operations. We are earlier stage with more growth than competitor. Do I reach out or go another route?
I have a startup and have had a few meetings with investors.
Go another route. From my recent personal experience there was no progress after the first meeting and luckily one of the guys mentioned that they had already funded a competitor. After that i realized that all their questions were 'intelligence gathering exercises' and they had already decided not to fund me. I got a call a few days later for another meeting and realized that one of the directors was really keen to know about my project details. Probably to give give feedback to their startup. I guessed right. A few weeks later I found out he was on the board of my competitor.
So tread carefully if you know your investor has a stake in a competitor.
