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unsurprisingly, i am still talking about press releases + following: eleanor hawkins

the vc marketer: where VCs go to market

Author

Rachel Mackey
October 24, 2024

VC Marketing: The Hot Take This Week

Another week, another email from me debating the value of the press release. Join me for a (very brief, I promise) history lesson, won’t you?

In the early 20th century, press releases were both groundbreaking and essential if you wanted your news to make headlines. The first press release dates back to 1906, a simpler time when companies had to physically deliver, dictate, or mail their press releases. By 1954, PR Newswire had swooped in with a system for electronic distribution, and I can only imagine that old timey comms folks breathed a collective sigh of relief.

Back then, the strategy was to send the same release to as many channels as possible, with a hope and a prayer that it would make the cut in multiple channels. Today, with all the tools available to brands, one story can now be adapted into several compelling versions. Little content snacks, if you will. This expands distribution and helps avoid duplication, improving the experience for both users and search engines. More here on the history and evolution of media if you want to keep diving.

The role of the press release as we know it now serves to capture a moment in time for a business (product launch, funding announcement, new hire, etc), and to ensure the basic facts are shared and momentum is being captured. Also important to note when we think about this topic: there are financial disclosure laws that require some public companies to issue press releases.

In a recent write up from Eleanor Hawkins for Axios, she dives into the why behind the press release. Comms teams are more frequently leaning towards a strategy that amps up their company’s owned media presence using blog posts, fact sheets, Substack, Medium, and more. Basically, you can and should get more creative with your comms strategy. Definitely make sure you check out Eleanor’s article- she hits on the interesting impact of Gen AI on the press release.

❝

That core AP style press release is dead. But with just a little bit of imagination, the press release could be an energizing and impactful comms tactic.

Caitlin Kelly, founder of EZ Newswire

Follow for Hot Tips 💅🏽

This week I’m following (surprise!) Eleanor Hawkins. If you’re into comms, thinking about comms, or wake up in the middle of the night ruminating on your comms strategy, I highly recommend subscribing to her newsletter, Axios Communicators.

Tell Me What’s Going On 👩🏽‍💻

VCs are rewriting the opportunity fund playbook—or scrapping it entirely. The hook: The opportunity fund hasn’t been left for dead, and there are signs that VCs may be changing their definition of the term.

Deep dive: Climate startups are turning to defense funding. The hook: Climate-focused investors say In-Q-Tel brings a level of technical expertise and global reach that few venture firms can match, plus a unique ability to attract defense agencies that are shopping for new tech.

Acrew Capital hits five years, raises $700M. The hook: Acrew has seen multiple exits so far, including corporate spending platform Divvy, which sold to BILL for $2.5 billion in May 2021, and creator platform Superpeer, which was acquired by Skillshare for an undisclosed amount earlier this year, among others.

Pet-focused Vetted Capital targets $150M+ first-time VC fund. The hook: Vetted’s marketing materials emphasize an opportunity set born out of a fragmented market skewed disproportionately toward backing early-stage founders. There is, in other words, a clear need for follow-on growth capital.

Tell Me Where To Be 🤝

Denver

LA

Y’all, I know there is more going on in LA. If you have recs on where to look/who to follow for VC/tech LA events, DM me!

Austin

Austin Tech Week kicks off on October 28th! I’ve picked out a few events that look cool. Full calendar here.

Chicago

That’s all for now. See you next week!

Have a recommended follow or event? Want to sponsor this newsletter? DM me.