Raising Millions from VC with a PowerPoint and without a working prototype

hantel Waterbury is the founder of Chloe + Isabel, a jewelry website that turns each of its users into mini entrepreneurs. In this jewerly website, the users are encouraged to sell Chloe + Isabel jewelry products to colleagues, friends or co-workers as well as house parties and earn money.

Chloe + Isabel designs and creates the jewelry, provides online training for its salespeople and also gives them marketing tools and helps them build e-boutiques.

Accordingly to Business Insider, she had no technology built, no working prototype and no jewelry made. She just had a dream, a business plan and a made a PowerPoint presentation.

Without a working prototype or a good reputation in the tech scene, most entrepreneurs struggle to raise money. But Waterbury said she had her pick of the litter. Three major Silicon Valley firms wanted to invest in her seed round, she turned them all down and kept the financing modest. Is this a kind of lean startup?

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