How to score $200M: Angel City’s playbook for women’s soccer
The high-flying Angel City Football Club is rising to a historic valuation in professional women’s soccer, nearing $200 million. When the Los Angeles team started four years ago, franchises in its league went for as little as $2 million. Co-founders Kara Nortman and Julie Uhrman reveal the game-changing strategies behind this seismic shift, created with a third co-founder, actor and activist Natalie Portman. The tale of ACFC holds valuable lessons, from harnessing an outsider's advantage to tapping an underserved market with fresh perspectives. Their bold vision: prove women's sports is a lucrative enterprise, champion equitable recognition and pay across gender, and craft an iconic brand fueling community impact. Kara and Julie’s big dreams, brilliant execution, and unstoppable determination have transformed an industry.
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20VC: How To Assess Founder Psychology, Why Talking About Financial Returns In The First Meeting Is Always Wrong & How To Allocate Time Amongst A VC Portfolio with Kara Nortman, Partner @ Upfront Ventures
Kara Nortman is a Partner @ Upfront Ventures, one of LA's leading venture funds. Kara is also co-founder of Seedling where she currently serves as Chairman. Prior to starting Seedling, Kara spent close to seven years at IAC where she acted as the Senior Vice President and General Manager of Urbanspoon and Citysearch. Prior to Urbanspoon/Citysearch, Kara co-headed the M&A group at IAC where she lead some of their most successful acquisitions, notably Urbanspoon, Dictionary.com and Aston Hotels. While at IAC, Kara also served as a board member to Hatch Labs, IAC's mobile technology incubator, where she recruited and advised Tinder. Kara also spent time at Morgan Stanley, Microsoft, and Battery Ventures.
In Today's Episode You Will Learn:
1.) How Kara made her way into the wonderful world of VC?
2.) Question from Greg Betinelli and Jenny Lefcourt: What is the most surprising thing about moving from an operator to a VC? What does Kara prefer more about being a VC?
3.) Having been an entrepreneur with a board, what does a good board member look like to Kara? How does Kara allocate her time amongst her portfolio?
4.) How does Kara assess founder psychology? How does Kara look to get to know the founder both post and pre-investment? What are some signs and tells for Kara of the truly successful operators?
5.) How does Kara view diversity in the VC landscape? What are prime examples of where it is going wrong? What can be done to change this? What are Kara's hopes and concerns for the future?
Items Mentioned In Today's Show:
Kara's Fave Blog: Both Sides of The Table
Kara's Fave Book: Grit by Angela Duckworth
Kara's Most Recent Investment: Stem
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Pearl believes the latest automotive technology should be available to every driver – whether it's time for you to buy a new car or not. RearVision is our first step in driving this commitment forward. Pearl RearVision is the only wireless backup camera and alert system that installs in minutes and updates throughout its lifetime. Pearl literally takes less than 10minutes to install and is completely wireless because it's solar powered. Since RearVision is software based, we're able to push updates and new features over the Pearl App in the exact same way you receive updates for other apps on your phone. Pearl RearVision is perfect for anyone who wants to upgrade their car in minutes. Pearl RearVision is $499.99 and available at PearlAuto.com. It's also available on Amazon and through Crutchfield.
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