Blogs
NEW YORK: Cafrino has announced co-founder Haig Kayserian as its new Chairman, and brought experienced gaming executive Joseph Conner into its team, as the online poker startup continues on its impressive growth trajectory.
Cafrino was founded in response to the 2011 United States-wide crackdown on online gambling, and after a product reboot in 2014 under new CEO Michael Murphy, the legal poker website raised seed money totalling $250,000 and has recorded impressive growth over the past two years.
Cafrino takes no money from players, but pays players cash prizes from its advertising revenue, which is received by running advertisements between hands.
Since 2014, its player-base has grown to 60,000, with over 10% identified as monthly active users. There are over 1.8 million hands dealt on the website per month. This number is expected to grow significantly with the launch of the Cafrino mobile app, slated for later this year.
Haig Kayserian, who has been part of Cafrino since its inception, is an internet business consultant with two international companies under his directorship - digital agency, KAYWEB and angel investment firm, KAYWEB Angels - and has sat on the boards of over ten internet businesses in the United States and Australia. He is also an adviser to a venture capital fund.
Kayserian assumes the Chairman role on the Cafrino board as the company looks to raise Series A funding that will catapult its product and marketing efforts to what he refers to as “a tipping point”.
“Our CEO Michael Murphy has led Cafrino beyond all set targets since we raised our seed money at a $1 million valuation,” said Kayserian. “Our relationships with ad agencies have us clear-sighted on what we have to do to reach a tipping point in terms of active users, and we’ve drawn a path to achieve that with the help of a Series A funding round that will reflect the new value of this outstanding business.”
CEO Murphy added: “We listened to our users and constantly improved our product to bring it closer to their satisfaction, and are now planning on further enhancements on our evolving list, especially taking Cafrino mobile and introducing an ad-free subscription version to meet this demand made by some of our users.”
To help with this product focus, Cafrino has also announced that Joseph Conner is joining the team as Director of Poker Operations, with the task of managing the product evolution post-funding.
Conner is an online poker product professional with eight years of experience in real money, membership, ad-based and social poker models. His list of products include Tropicana Entertainment's Social Casino, Bwin.Party's Party Poker & Party Casino, NYX Gaming Group, and DoylesRoom Poker.
Conner said: “I have closely followed the progress of Cafrino since 2014, and it has really been making waves in the online poker world. Our product plans will inject further momentum in that growth and ensure Cafrino’s place among the leaders in this space.”
NEW YORK: KAYWEB Angels, the New York investment firm providing technical expertise and services in exchange for equity to technology startups, has announced that its Spring/Summer 2015 round will be closing on Friday, 24th July 2015.
In August, finalists will be invited to pitch in person to KAYWEB Angels at their Manhattan office, with decisions to be made on any investments in September and October.
"There have been over 100 applications since our last round, and we have been sifting through a select few as a Board," said KAYWEB Angels CEO, Haig Kayserian. "We thank everybody for their efforts, and look forward to meeting a select few in person in a couple of weeks."
Applications can still be made during Fall and Winter via the KAYWEB Angels website (CLICK HERE TO APPLY), and they will be considered by the Board for the Fall/Winter round, which will be decided in the first half of 2016.
Cafrino LLC, a 100% free-to-play and U.S. legal online poker site, has announced Michael Murphy as the company's new CEO and revealed a capital raise that values the poker site at $1 million.
Murphy has worked with some of the most recognizable brands in the country, including Sony Online, Sony Pictures, Lucas Arts, and Fox Interactive. Most recently, he held a position as the Senior Vice President of Creative Services at NYX Gaming Group.In addition, Cafrino has secured $100,000 in additional capital investment, valuing the company at $1 million.
"Cafrino will be the poker experience I've always wanted as a player," Michael explains, "Whether it’s live poker, online, or free-to play, I know what poker players want: a fun, challenging, cheat-free environment where technical issues are handled promptly and prizes are paid out as promised. Cafrino is going to be a revolution in the world of online poker, and I hope you all will come along for the ride."
Cafrino is a KAYWEB Angels portfolio company, and the investment firm's CEO Haig Kayserian said they were delighted with these latest developments.
"Cafrino has had to go through some major changes in recent times, and we never gave up on the product, seeking a new CEO to lead it to the heights it deserves," Kayserian said. "In Michael Murphy, we have our guy and Cafrino has the guy it needs to fly."
Cafrino is currently open to BETA testers after recent development updates, and expects to launch its new product in coming months.
Click here to sign up and play (only accessible from United States).
NEW YORK: KAYWEB Angels, the New York investment firm providing development and resources in exchange for equity to technology startups, has announced the closure of its Spring/Summer 2014 round, with over 150 applicants applying.
In September, finalists will be invited to pitch in person to KAYWEB Angels at their Manhattan office, with decisions to be made on any investments in October.
CEO Haig Kayserian said: "We thank those who applied and our Board has selected a handful for pitches in person. This will present a magnificent opportunity for startups interested in our investment model to be rewarded."
Applications can still be made during Fall and Winter via the KAYWEB Angels website (CLICK HERE TO APPLY), and they will be considered by the Board for the Fall/Winter round, which will be decided in the first quarter of 2015.
The New York-based web and mobile investment company, which invests development as capital, has decided to fund significant upgrades to both web applications.
You Need My Guy (youneedmyguy.com), which is a portal that allows users to to share their trusted suppliers with their social network, has attracted over 4,000 users in its BETA phase, and the trajectory is more growth.
“You Need My Guy CEO Joe Cassara has recently closed a private round of $100,000, and our investment will ensure that money can be spent on marketing, resulting in more users,” said KAYWEB Angels CEO, Haig Kayserian.
Do It In Person (doitinperson.com), which is an all-in-one events organization, promotion and ticketing application, has hosted over 200 events in its BETA stage, and is generating revenue and growing every single day.
Kayserian added: “This investment will allow Aron Shoenfeld, the CEO of Do It In Person, to act on some key feedback of his BETA testers, and take the company to the next level.”
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About KAYWEB Angels:
KAYWEB Angels, LLC is an angel investment company based in New York City, providing development services and mentoring to web and mobile start-up businesses in exchange for co-founder equity. The company was formed in 2011 in recognition of the need for engineers (technical partners/co-founders) that exists in New York’s entrepreneurial tech market. KAYWEB Angels has 9 portfolio companies.
Contact:
John Buckman, GM | KAYWEB Angels | (212) 653-0391 | john@kayweb.com | www.kaywebangels.com
NEW YORK: New York angel investment firm, KAYWEB Angels has named one of its portfolio company founders as its first Entrepreneur-In-Residence (EIR).
Aron Schoenfeld, who is CEO of fast-growing events web application, Do It In Person, accepted the offer of KAYWEB Angels CEO Haig Kayserian to join his company’s growing team, which includes General Manager John Buckman, an all-star Board, and a strong web/mobile design and development staff.
“Aron has been an exemplary CEO of one of our marquee portfolio companies, and we felt bringing him on in the role of Entrepreneur-In-Residence will allow our Board, the current portfolio companies, and future portfolio companies to benefit from his expertise and feed off his considerable energy,” said Kayserian.
The EIR role will involve Schoenfeld working closely with Kayserian and Buckman, regularly meeting with the KAYWEB Angels Board and portfolio founders, seeking deals to benefit the group, and representing KAYWEB Angels at events across the United States.
“Since before KAYWEB Angels invested in Do It In Person, I believed in the vision of an investment company offering much-needed development resources to startups, in exchange for equity. But what really makes this work is that KAYWEB is much more than an investor. They serve as advisors, mentors and experts that have really helped bring my vision for a company to life,” commented Schoenfeld.
“I have had a very productive working relationship with KAYWEB Angels, and was honored and delighted to accept a formal role within the organization alongside my full-time duties as CEO of Do It In Person.”
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About KAYWEB Angels:
KAYWEB Angels, LLC is an angel investment company based in New York City, providing development services and mentoring to web and mobile start-up businesses in exchange for co-founder equity. The company was formed in 2011 in recognition of the need for engineers (technical partners/co-founders) that exists in New York’s entrepreneurial tech market. KAYWEB Angels has 9 portfolio companies.
Contact:
John Buckman, GM | KAYWEB Angels | (212) 653-0391 | john@kayweb.com | www.kaywebangels.com
KAYWEB Angels CEO, Haig Kayserian was among the speakers at "THE GREAT MOBILE DEBATE" event in New York City on November 18th, 2013.
The event, which also featured Kalin Kassabov of ProTexting, was held at Cowork.rs and organised by the New York Startup Society and Do It In Person.
NEW YORK: Web and mobile startups seeking investment from New York's KAYWEB Angels have until midnight (New York time) on Sunday October 20, 2013 to submit their applications for Fall consideration.
The applicants deemed to have matched the majority of KAYWEB Angels' investment criteria will be invited to pitch in person in New York during November.
KAYWEB Angels, who provide development services and mentoring in exchange for equity, already have 9 portfolio companies on their books and are expecting to add to that number before the end of the year.
KAYWEB Angels CEO, Haig Kayserian said: "The Board has had fun reviewing the 100-plus applications we have so far received, and are looking forward to adding to our portfolio in 2013."
Visit www.kaywebangels.com and click APPLY to begin the application process with an online submission.
Tony Fairweather, busEasy.com
KAYWEB Angels Portfolio People is a section in our Blog that features profile interviews with the people behind our companies! In this interview, we feature Tony Fairweather, CEO at busEasy.com.
Tell us your name and where are you from?
Tony Fairweather – Brisbane, Australia
What you had for breakfast this morning?
3 x Wheatbix (45 seconds in the microwave to warm the milk). My wife (Sarah) calls me “soft” for needing warm milk.
What are your favorite television shows and movies? Favorite books?
Celebrity Apprentice and The Usual Suspects. Book = Into Thin Air – John Krakuer. A journalist who climbed Mt Everest.
iPhone or Android? Facebook or Google+?
iPhone and neither
Who are the hottest startups outside the KAYWEB Angels group right now and why?
Our competition – Wanderu.com. Seem to be moving a bit faster than busEasy, although have a different (less substantive) offering. Either way, have been recognized by Mashable, so they must be doing something right.
What areas / opportunities are ripe for startups to tackle?
I enjoy following the development in personal and business assistant Apps. For a growing population of people whom simply don’t have enough hours in the day, and can use some efficiency assistance.
Have you been a part of any previous startups? If so, any lessons learned?
Yes in the bus and coach industry. Surround yourself with good people.
Outside of your startup what are you passionate about?
My wife, kids and I are passionate about living now, and not just the future. We periodically treat ourselves to special experiences – primarily involving travel.
Who has been or currently is an inspiration to you?
My father-in-law, whom I learnt that success can be achieved with hard work, perseverance, morals and ethics.
YOUR STARTUP
You are currently in stealth so don't tell us what you are doing but give us a hint of the problem you are addressing?
Delivering a solution to the coach/bus industry which is available to all other forms of transport.
What led you to this right now instead of anything else?
Although I am still involved in various other businesses, busEasy has the potential to have a massive global impact and a proportional return, if we get the technology right.
What is your current biggest challenge?
Getting to market so we can start the journey.
Let's play a prediction game. Let's say we are 12 months from now, and you are about to present to your board. How would you describe your progress?
20 scheduled coach service operators integrated into busEasy, and (conservatively) 25,000 customers/users per month (or $70,000 per month). I see 6 full time employees and a partnership forming with Flight Centre (Australian company which has a US strategy). No exit planned as yet. Enormous growth, will require 3-4 years of focus to achieve the businesses potential.
Now let’s play the reflection game. Think about who you were five years ago. What advice would you give former you?
To move out of a corporate environment earlier.
NEW YORK: KAYWEB Angels CEO Haig Kayserian led a roundtable discussion on The State of Startup Funding along with Scott Gerber - the Founder of Young Entrepreneurs Council, and Pete Kistler - Co-founder of Brand-Yourself.
The event, organized by the New York Startup Society and promoted by KAYWEB Angels portfolio company Do It In Person, brought together two of New York's most active investors in Kayserian and Gerber, and Kistler, who recently raised over $1 million for his startup.
Over 50 New York City entrepreneurs joined in the discussion at The Alley, which touched on topics including Venture Capital trends, the Series A crunch, Crowdfunding and Incubators.
Kayserian also recently presented at the Independent Retailer Conference at The Scholastic Auditorium in SoHo, NY.
KAYWEB Angels is currently accepting applications for investment at www.kaywebangels.com.
