NYA FOUNDER SPOTLIGHT ‒ JORDAN WALBRIDGE, CO-FOUNDER
Jordan Walbridge, Gameway Co-Founder, started the company in 2017 and shortly after opened their first location in 2018. Gameway is the world’s first premium airport video game lounge and has locations in major airports including LAX, JFK, Dallas Fort Worth, and more. Jordan shares his story on being a team with his wife Emma, maintaining a cash flow positive business since Day 1, and why he is more selective about bringing on investors than he is employees.
How did you first meet New York Angels?
After founding Gameway in 2017, we opened our first location in 2018 at E16 in Dallas Fort Worth. We’ve been cash flow positive since Day 1, which is rare for a startup, especially in spaces that are expensive like airports. Then in 2020 when the pandemic hit, we had to trust that COVID would end at some point, and we decided to raise more money to open additional locations. Gameway had developed a partnership with an accelerator called Stadia Ventures, and they introduced us to two partners from New York Angels.
What were you looking for in investors when you were fundraising, and why did you choose to work with New York Angels?
I think it’s very important for entrepreneurs to be selective with who they bring on as owners. You can fire employees, but you can’t fire owners, so I believe it’s crucial to be aligned on the vision. We had already turned down millions of dollars from other investors before we connected with New York Angels.
I think the best investors are those who can be a soundboard for the company. When I met with Ian and Jeff Seltzer from NYA, I felt they actually wanted to bring a lot more to the table other than just money. Ian was already very much involved in the gaming space, and they understood the vision of what we're trying to create. They’ve also clearly been through the fundraising process with many founders before, and that experience made a big difference. Overall, the NYA Members really understood our vision, our story, and our brand, and they bring a level of expertise to help us in our strategy, financials, and scalability.
What was the process like for you when you were fundraising?
Fundraising can be one of the hardest things entrepreneurs go through. You’re running a business, living on a Top Ramen diet half the time, but you have such a strong belief in your company and what you’re building is going to be a global game changer. You have to sell that vision to investors.
I’ve been very blessed to have key people, including our board of directors and other investors, who have supported me through this process. While the initial part of securing the first investors is difficult, once you start to do really well, their networks can open up new doors for you. I’ve always been strategic about not going to VCs or private equity too early because I believe their terms can be tough for companies trying to grow. Instead, we’ve focused on high-net-worth individual investors, and New York Angels fit perfectly into that approach. New York Angels Members are very savvy, and they’re not in the business to want to take it over, but instead to help support their companies in growing themselves.
What have you enjoyed most about working with New York Angels?
They’ve been incredibly supportive. I can call Ian or Jeff anytime, and they almost always pick up. They bring a wealth of knowledge and experience, but they’re also very encouraging. Jeff often says, “Man, you’ve got the tiger by its tail,” which shows that they’re just as excited about Gameway as I am. It’s good to have that kind of positive support from people who have been doing this for so long.
What advice would you give other founders who are looking to fundraise?
Founders need to have a very clear, concise message. If you can’t clearly describe what you do in a very short period of time, you’re not ready to fundraise. Your pitch needs to be dialed in – both verbally and in your pitch deck – telling your story on how you make money and why it’s a great investment. I started practicing by pitching to friends and family first, but then to anyone who would listen. You probably should be pitching everybody and anybody – not to get them to invest, but to refine your message. If you have practiced 25-30x before pitching to actual investors, you will be more successful. When you are in front of an investor with real money, their time is very valuable, so respect their time by being prepared and concise.
What advice would you give other early-stage investors who are looking to invest in companies?
Two pieces of advice:
1) Don’t just look for the biggest red flag. Instead, take a moment to really get to know the founders you’re investing in. Bet on the individuals who will take you to the finish line. It’s easy to retreat from an investment when something seems off, but sometimes, it’s worth digging a little deeper to understand the people behind the business.
2) Being an entrepreneur is like scaling a mountain: the higher you climb, the more bodies are left behind. These bodies are companies, brands, businesses, dreams, and aspirations, and they're everywhere. The higher you climb, the bigger these businesses are that have failed.
So I think one of the most important things investors should look for is the founder’s level of commitment. If the founder is someone who is willing to risk everything – like putting their house or personal finances on the line – you know they are all in. If they have a comfortable place to sleep and they have a comfortable environment to fall back to, I wouldn't trust them.
My story starts back in 2017 when I was working full-time as a medical device rep, and we were going to pitch the concept of Gameway to airports. I thought at the time: I have a six-figure salary, and I’ll maintain my job until Gameway starts bringing in revenue. God had a different plan for me. In the summer of 2017, I had just bought a house with my brand new wife, and my employer calls me and tells me they eliminated my position. The logical thing to do would have been to go get another job, but instead I tell Emma, my co-founder and wife, “We’ve landed on the island of Gameway, and the only way we’re going to take this island is by burning the ships.” There was no going back for us. If you see a founder with that level of dedication, that’s someone worth investing in.
What has driven Gameway’s success?
A big part of our success is the partnership between Emma (Gameway’s Co-Founder and my wife) and me. First off, Emma is the one who thought of the idea behind Gameway, and I thought, “Oh, my this is lightning in a bottle! Let's go!” We complement each other really well, and we’ve been able to act as partners, decision makers, and co-founders together from the very start. I know a lot of people say they couldn’t work with their spouse, but for us, it works well. When we talk about work, we’re talking about something we built together, and that’s been a huge factor in our success. We’ve also faced challenges – like the pandemic hitting just a year and a half after we launched – but we managed to thrive through it. We’ve been successful because my wife and I had this mentality that we're going to make it work, no matter what.
