 A simple proof-of-concept website, launching within the London business community. And I got a few developers to help. I'm not a developer. And then it started to grow there. And we started to make some money and enough money after six months to hire the first employee. Exciting. Then after one year, we raised an early-stage seed money. So probably similar to what you just raised. And then we raised a bit more and a bit more and we got into science and university and raised one and a half million dollars. At this stage, that's it. That's the end of the presentation. I know, you know, came by an island in the Caribbean and everything is so... Yeah, right? One and a half million dollars. More than enough for everything. The problem was that we had one and a half million dollars. But our competitors had a bit more money. More than a billion. And when you have one and a half million, you complete with a billion, it's a little bit hard. It's a little bit hard. It's just, you know, us deciding who are the best eleven players among us and going to play against Chelsea. What will happen? So we realized we need to do something. We need to change. And what we started to do is to do the things that actually made us a good business. To talk to our clients. And we asked them, why do we use ourselves? And we started to learn the patterns and the special reasons that they can use our service. What is the value for them? And how we can actually, instead of thinking about a very big market, isn't something for everyone? We thought, oh, maybe we can limit it. It's not for everyone. It's just for this very, very small group. Let's solve the needs of this group better than anyone else. What can we do that no one else is doing for business? Excuse me. And we kept doing that. We kept developing. Initially from short days, then to medium stays. Then we started to talk with corporates and all the corporates told us this story that I told you before. Executive gets everything, junior gets not. To sign some, some very large corporates on all the concept websites that we built for them. Very, very simple one that didn't have much functionality. And we learned from that that they actually find the benefits, but also that there's no competition. You know, there's no competition. It's a bit easier to do in business and easier to create value. So when you think about your businesses and how to position it to the investor, you need to think about it because one of the questions that Charles asked was one of the competitors. To tell them there are no competitors all is a very balanced. That means that you don't know them all. There are always competitors, but just less and not organized and maybe not in the same occasion. And with that, we build a stronger story how we are building a business that will generate $100 million of revenues in four years. By focusing on the B2B business, we've closed our consumer business. We are only doing this. It's a massive opportunity for us because there are many clients and no one else is competing and we've named down the product market. We know clients are willing to pay for this. All right, so that's a little bit about us. As context, let's talk about fund raising. The first question you should ask yourself is do you even need fund raising? You should think very, very well if you want to actually get funding because you lose control. When someone else put money in the business, they also want to get more control of the positions, of the direction. That's one, one. Last question. You said you are already on the sixth round of funding, right? Right. If it's not a secret, could you approximately outline the dilution mechanism for these six rounds? How much you are losing? Yeah, so we'll talk about it in a few slides how the use will work. But before we talk about how the use will work with this very good question, thank you. I want to really raise the question here because you don't always need fund raising. A lot of people are doing successful business without venture capital, without investments. And that's perfectly fine. If you can find a way to build a profitable business, that doesn't mean that you need to be in the hundred million dollar business. It's high risk. When you aim very high, the chances of failure are also high. It's okay to also think, I want to be an entrepreneur and get my own business. 50% of the jobs in the US are created by small businesses, not by large companies. So it's perfectly fine also to go there and to take into account do I really want to do fund raising because it's a big commitment and you need to align your interests with the investors. And it takes a lot of time. So fund raising, every round of the six rounds took me between six to nine months. Well, during that time, I had to work full-time on the fund raising. I would say it's not possible because there was only one person in the business, right? Or two. So how do you do the business? Well, you work full-time on this and full-time on customer service and full-time on sales. It's very, very hard. It's very demanding. It takes a lot of time to fund raising. It's not working like, oh, I'm just going to come and do a few presentations and get the money. It's a lot of children relationship getting enough that we'll see why it takes so long. So let's talk about the type of investors that one can raise from and the different stages. It's not my slide. It's divided into five. Pressing, seed, serious AMB, CS safely plus and M&A and IPO. Signature and public profit basically being listed on the stock exchange. And the numbers are, I think, in dollars but you can apply these cards in order to... Usually you start with the free seed which is going to be either your savings or money from what is called a triple A. Friends, family and food. Food. I'll explain the second one. Oh, grants. Grants is also going to start there. Anything, normally you will not give any equity at this stage. So for your question, there's normally no delivery. It's just money. People will believe in you. That's it. That's the only thing they believe. Making the idea a little bit, but mostly it's love money. They really love you and they give you the chance to go for it. The seed fund can come from either early stage venture capital but most of it will come from business angels. Business angels are people who made a hike. Income either through energy or banking or IT or whatever they were doing and they have some money they want to invest. We'll talk in a second how to approach them. Then comes the actual what's most sophisticated money, CSA and B, which is normally from venture capital from angel funds, et cetera. And CSE will come from venture capital some private equity and both funds. But I think this is less interesting. Let's go through some of these things. We'll visit this slide again. So what these investors are looking for? Let's say that in the first term meets three types of money. One of them wanted to distract the industry. The second one to change the world. The third just want to make a lot of money. The only thing is more likely according to research that they invested. Let's vote. So the first one wanted to distract the world distract an industry, change an industry. One is not sure. Okay. The one who's going to change the world. Changing the world. I can give you a better place. The one I just want to make a lot of money. Well. Research show, I don't know if that's what research show is. Making a lot of money. And it makes sense because investors do it for many reasons. But the first reason is to make money. Sometimes on their own money. Sometimes on others people money that they manage. That's a big difference by the way between these two and these three. In the first two it's people money. Here it's normally other people money. It's going to affect the decision-making. So we know what investors are looking for. Which is money. Let's look. How much money do you want to make? I'm sorry that the slide is a bit hard. So let's talk about the best seed. The love money that their friends, their family and some fools. Why are they investing? Mostly to help you. That's what they don't. If they're going to make money, it's not the reason. And if you look here, this one shows the risk in every step. This is the highest risk. The highest risk in the early on in the big year. Then there is the seed money. The whole slide. It looks nicer on my computer. So seed money investors. Why do they invest? They want to make money. Three times their money will actually not be very bad. Or five times. How are they going to make money? Everything investors make money. So they're giving dividends. Would you invest in anyone that gives dividends? Does that work? What the investor would want is that you sell the business one bit. It's okay if you stay to work in the business. But it's fine, but sell the shares. Because that's when you make money. Investors don't make money on dividends. It's nice to have them. Knowing it's against it as part of making money. What's really important for them is that this is a business that someone will buy. It's okay if no one will buy this business. Just don't go to speak to these people because it's not going to be what they're looking for. You can find other people who will find it. Provide, but not traditional. It's called the venture capital. It's very important to know what they expect. So we know how to do that. The other reason that angel investors are investing in the seeds