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Absolutely Useless and Waste of Your Time

Fund: Amidzad

Posted by Anonymous on 2008-02-25

PUBLIC:

Amidzad is two people venture, not four. Guys in charge are Saeed and Pejman.

They are sleazy and try to get people to lease their Plug and Play office. My friend told me about them a while back. He also told me that they are all about bullshit. I didn't agree with him since on their website they talk about Paypal and few other noteworthy startups. Well, it's all B.S..

They first show lots of interest. Then they throw big names like: "you know Pejman, we should talk about this with Ron (Conway)" or "I think Michael Mortiz would like to hear their pitch"...

Then we went for the second time, it was supposed to be a 60 min pitch and Q&A. One was late, the other said he had to leave, we got interrupted 3 times by other people including the property manager. The whole meeting was about 20 min including all interruptions. And they never answer their email. Saeed bounces things to Pejman and vice-versa. So unprofessional and immature!

So naturally, I tried to understand more about these jerks. Here is what learned:

- they are rug dealers and not venture capitalists
- they are well-connected in the valley because they deliver rugs to rich people houses and not because they are savvy investors in technology
- their business is real estate and they will do what they can to sell you that
- they are writing checks for 25k to 75k max. In couple of cases they did 150k
- they tag along with other investors (which is very good for you and for them)
- they rented few rooms to Paypal founders and now they consider themselves original investor of Paypal.
- they are 98% talk and 2% action
- Pejman is a total jerk. Avoid him if you can
- Saeed is soft spoken and likable. But beware of appearances

Happy gold digging :-)

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