- Rare Crowds, an ad-tech startup founded by Microsoft ad veteran Eric Picard, was out of money and facing shutdown at the end of last year, but a bold move from Picard helped get the company back on its feet.
- Picard reached out on an email listserv, the "Oldtimers List," comprised of over 450 advertising veterans with at least 10 years of experience.
- Self-promoting on the list is one way to get booted, but Picard was desperate, so he had a "stiff drink" and gathered up the courage to send out an email asking his peers for money. The response was overwhelming and, within a few days, over $200,000 was raised.
Picard's move to ask the Oldtimers List for capital took a lot of courage and humility, and it worked. It serves as a perfect example of the risky moves startups often have to take in order to survive and thrive. Hopefully, some other startups can find inspiration in Rare Crowds' story to make bold moves of their own.