FAQs

 
 
 
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Developers

How do developers join Launchbids beta?

If you're a developer just join our beta on the home page. When we do a full launch we'll have a separate login and registration for founders and developers.

What's the vetting & identity verification process?

All developers are vetted by forcing registration through Github. We then verify their identity through a third party tool. Lastly, we provide several options in the Developer profile to add things like Hacker Rank score, Codefights profile, and portfolio information.

How much does it cost?

In Beta Launchbids will be free. After Beta we'll be charging for some premium features that focus on helping Founders promote their project better to the community of Developers.

Are my bids visible to other bidders?

Nope! All bids are private so you can be sure to get the best bid instead of people 'racing to the bottom' to just win your bid.

How long is the Bidding phase? Finalist round?

Once a Project is posted by a Founder the Bidding phase will last 30 days. During this time Developers can bid on the Projects. This is followed by 7 days of the Finalist round where Founders choose 3 developers to open communication with.  After that we encourage Founders to choose a winner and get going! Note that Founders can always close the Bidding and Finalist phases early if they're happy with your bidders so bid early if interested!

Am I locked into a bid once I make it? Can I back out of my bid before it's accepted in the Finalist round?

Placing a bid is just an initial step.  If you make it to the Finalist round you'll have the ability to edit your bid after speaking with the Founder. You also have the option to withdraw your bid entirely. Once the Founder chooses you as the Winner you again have the chance to back out and not accept.

What happens after I'm chosen as the winner?

In the Finalist Round we allow Founders full access to the profiles of Project bidders (you), and vice versa. You are also able to communicate one on one with them through our in-app chat or take communication off the platform.  Once you're chosen as the winner the Project will close and we encourage you to go work on your startup together!

 

 
 

Founders

How do I know the Developers are high quality?

All developers are vetted by forcing registration through Github, a popular developer tool. We then verify their identity through a third party tool. Lastly, we provide several options in the Developer profile to add things like Hacker Rank score, Codefights profile, and portfolio information.

What's the vetting & identity verification process?

All founders are vetted by forcing registration through LinkedIn or Facebook. We then verify their identity through a third party tool.  Once verified the user will have a green checkmark next to their profile image.

How much does it cost?

In Beta Launchbids will be free. After Beta we'll be charging for some premium features that focus on helping Founders promote their project better to the community of Developers.

What happens after I choose a winner?

In the Finalist Round we allow Founders full access to the profiles of your Bidders, and vice versa. You are also able to communicate one on one with them through our in-app chat or take communication off the platform.  Once you award a winner your Project will close and we encourage you to go work on your startup together!

Is my project visible to the general public?

No. The only people who can view Projects are Launchbids users.

How long is the Bidding phase? Finalist round?

Once you post your Project the Bidding phase will last 30 days.  Then you will have 7 days to choose 3 finalists in the Finalist round.  After that we encourage you to choose a winner and get your startup launched! Note that you can always close the Bidding and Finalist phases early if you're happy with your bidders.

I don't have an NDA. Can I use yours?

Yes. After you create your Project Brief you'll have the option to upload your own NDA or use our own.

Are bids visible to other bidders?

You have the option to let bids by users be public or private when you post your Project. We encourage you to keep bids private so you can get the best bidders who aren't worried about lowball equity or cash offers, but the choice is up to you.

How much of my Project information can a developer see before signing my NDA?

They are able to see the Project Title, Project Subheading, a subset of your personal Founder Profile, and the Category your Project is in (healthcare, B2C, bitcoin, etc.). Don't worry, you know which fields will be public or private during your Project Brief creation.

How do I increase the chances of my bid being accepted?

Make sure your profile is pristine, as well as your Github profile which we use to verify your skills as a developers. Though many Founders who post bids on Launchbids are non-technical they still want to see some history of your work somewhere. When you submit a bid you also have the opportunity to 'sell' yourself by giving more information about your background and skills and why you'd be a great fit for their startup.

How do I increase the chances of having great developers bid on my project?

Have a great Project Title and Subheading that makes developers want to view your full project details. Then the more information the better on your Project page. Include Pitch Decks, videos, traction or growth numbers if you have them, pre-launch signup numbers, investment, plans for the future, etc. Give the developers everything they need to make a good decision.