Gust
SEPTEMBER 17, 2014
Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. You’ll find out the minimum when the next round is raised.
Gust
OCTOBER 20, 2011
This worksheet provides the investor with a basis for deciding if a start-up company should be valued near the top or bottom of the range of values that might reasonably be applied to such an early stage venture. This article was originally written in May 2001, revised extensively in January 2011 and again October 2011.
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