A central issue for young entrepreneurial ventures is overcoming the liability of newness they encounter when seeking new resources for survival and growth, for instance in initial public offerings (IPOs) or an acquisition events. Convincing parties outside a venture of its real quality and future prospects might be a difficult task because of the existence of information asymmetries in the evaluation process. However, different organizational characteristics of an entrepreneurial venture’s ties might have different effects on the judgements of parties outside the venture. It is therefore important to shed light on the heterogeneity of signals exploited by organizations to reduce information asymmetry with external parties. Are reputation and status, similar and often confounded organizational assets, equally effective in signaling unobserved quality? Or, is their value different to different signal receivers?