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📍 Stanford University, California

In 2011, Evan Spiegel was a 21-year-old Stanford dropout with a disappearing photo app and a problem: no one took Snapchat seriously.

Investors dismissed it as a “sexting app,” and even Spiegel’s product design professor gave him a C for the idea.

But when Spiegel accepted a $15,000 check from his alma mater’s Catholic high school, he unlocked a chain reaction that led to Lightspeed Venture Partners’ $485K seed round—and ultimately, Snapchat’s $24B IPO.

The Play: Leverage Unconventional Investors to Signal Traction

Spiegel knew traditional VCs wouldn’t bite early.

So he pitched Saint Francis High School (Mountain View, CA), framing Snapchat as a “safer” way for teens to share photos.

The school’s investment committee—parents of students—wrote a $15K check, believing in Spiegel’s vision.

We like to think that Spiegel had the best of intentions with his pitch, the simple truth is that he secured the needed funding to get the idea off the ground.

Why This Worked:

• Grassroots Validation: A high school’s investment signaled Snapchat wasn’t just for college parties—it had generational appeal.

• FOMO Catalyst: Lightspeed’s Jeremy Liew noticed the buzz from Saint Francis parents and cold-emailed Spiegel.

• Narrative Control: Media loved the “high school backs dropout” story, giving Snapchat free PR.

The Results:

• 🚀 $15k to fund MVP and get the idea moving0% response rate

• 🚀 $24M return for Saint Francis at Snapchat’s 2017 IPO

• 🚀 $24B valuation at IPO, making Spiegel a billionaire at 26

💡 Steal the Snapchat Playbook:

1. Target Non-Traditional Investors Early: Schools, influencers, or micro-angels can validate your market faster than VC meetings.

Example: A parenting app raising $50K from PTAs to prove family appeal.

2. Use Small Checks to Anchor Bigger Rounds: List small investors in your cap table to create FOMO: “We have a high school, a mayor, and a VC—join the party.”

3. Lead with Value, Not the Ask: Ask for advice, feedback, or a quick take - not a check. Curiosity opens more doors than a pitch.

4. Turn Investors Into Evangelists: Saint Francis parents promoted Snapchat to local teens, driving early adoption in Spiegel’s hometown.

5. Pitch Strategic Value, Not Just Returns: Spiegel framed Snapchat as a “digital yearbook” for Saint Francis, aligning with the school’s community goals.

Startups Currently Raising

These innovative startups are actively fundraising from around the world.

Will one of our 31,000+ founders become the the next success story?

Agree.com (USA): AI-powered contract management platform streamlining negotiations, compliance, and payments for enterprises.
🔗 agree.com
📄 Pitch Deck Insights
💰 Raising: $7.2M (Seed) | Committed: Fully raised (May 2025; verified by TechCrunch)

SALZSTROM (Austria): Cleantech startup developing sodium-ion battery technology to replace lithium-ion in energy storage.
🔗 salzstrom.tech
📄 Funding Announcement
💰 Raising: €2M (Pre-Seed) | Committed: €1M (April 2025; led by ERSTE Bank and strategic partners)

Upscale AI (USA): Generative AI platform for automated video ad creation and programmatic buying for e-commerce brands.
🔗 upscale.ai
📄 Pitch Deck Summary
💰 Raising: $5.5M (Seed) | Committed: Fully raised (May 2025; led by nvp capital and M12)

Raising capital for your own company?

Let me know and we can get you on this list and in front of 31,000+ readers!

👉 Submit Your Pitch

The Takeaway:

Snapchat’s $15K high school check wasn’t about the money—it was about building a story that made VCs ask, “Why is a Catholic school investing in a ‘sexting app’?” 

For early-stage founders, the lesson is clear: Unconventional investors aren’t a last resort. They’re a strategic weapon to anchor bigger rounds and craft narratives that Silicon Valley can’t ignore.

Want to stand out in a crowded market? Sometimes, the best investors wear parent-teacher conference name-tags.

Start Building.

— MVP Templates | Forbes 30 under 30

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