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Time is the Enemy of All Deals

Both Sides of the Table

We were trying to optimize around a few criteria: price, size of round, number of syndicate partners and, of course, terms. When Salesforce.com decided to buy my company in December 2006 I dropped everything and focused religiously on closure. We ended up agreeing a term sheet for $16.5 million at a $15 million pre-money valuation.