Altgate

AUGUST 20, 2010

-King&# Approach to Term Sheet Negotiations Posted on August 20, 2010 by fnazeeri I feel like I’m in that scene from The Jerk where Steve Martin sees his name in the phone book and exclaims, “I’m somebody!&# I’m published (sorta)! Bookmark the permalink. ← Why Don’t Universities Teach Sales?

Term Sheet 39

Term Sheet Venture Capital Angel Financing Framework 39

Altgate

DECEMBER 16, 2010

→ More on Liquidation Preferences Posted on December 16, 2010 by admin A long time ago I had asked a VC about what pre-money valuation he was planning to put in a term sheet he had promised to send over. One of the least understood of these key terms is the liquidation preference. One point to takeaway from [.]

Liquidation Preference 39

Liquidation Preference Pre-Money Valuation Term Sheet Valuation 39

This is going to be BIG.

SEPTEMBER 30, 2012

This is a company that, according to the article, got term sheets from half of the VCs that expressed interest in the company. The last closed market we had was from about September 2008 until June 2009--10 months. Not a bad close rate, I'd say--and a pretty great pay day. Did I mention it only took the founder a month?

Venture Capital 114

Venture Capital Marketing Term Sheet Software Review 114

Startup Company Lawyer

MARCH 14, 2010

Founders Institute Plain Preferred Term Sheet (by WSGR – disclaimer, I represent the Founders Institute and was involved in drafting this document). This post assumes that you have a basic understanding of Series A financing terms. Y Combinator Series AA Equity Financing Documents (by WSGR). Dividend preference.

Finance 70

Finance Software Review Term Sheet Liquidation Preference 70

Altgate

JANUARY 5, 2009

@altgate Startups, Venture Capital & Everything In Between Skip to content Home Furqan Nazeeri (fn@altgate.com) ← Layoffs In Venture Capital Be Glad You Are An Entrepreneur! Tips: $75 Killver VC Pitch Deck Not much to learn here.

Technical Review 28

Technical Review Due Diligence Term Sheet Liquidation Preference 28

Both Sides of the Table

JUNE 5, 2015

This was until about 2009 because most the investments in companies came from one, maybe two, sources. Then all of sudden when you get a strong lead term sheet everybody wants to chuck in “just $250k” and before you know it the round is $3.5 For me it’s clear. million would be better than $2 million.”

Pre-Money Valuation 150

Pre-Money Valuation Option Pool Post-Money Valuation Dilution 150

Both Sides of the Table

OCTOBER 7, 2014

I had very smart entrepreneurs where I gave the company $2-3 million and we raised anywhere between $3-5 million and when I put A-round in the term sheet they had their lawyers change it back to seed rounds. I saw this myself a few times in a row.

Cap Table 399

Cap Table Silicon Valley Term Sheet Finance 399

K9 Ventures

APRIL 27, 2011

One occurrence of this was in Q1/Q2 2009. In August/September 2009, the founders and I agreed to work together to raise a round of financing for the company. The day before we were supposed to sign the term sheet for the investment, Like.com sued Ugmode (the parent company of Modista.com) for patent infringement.

Software Review 134

Software Review Technical Review IP Finance 134

The Next Web

JUNE 27, 2012

The term sheet was ready, all they had to do was sign. Their decision not to sign the term sheet with the VC, however, is an interesting one, although you can already guess why it was made. Except they ultimately decided not to.

Term Sheet 115

Term Sheet Angel Investor Software Internet 115

www.founderinstitute.com

MARCH 2, 2010

New "Plain Preferred" Term Sheet 08/24/2009: by Adeo Ressi Public: TheFunded Founder Institute has just released a new "Plain Preferred" term sheet with support of the blogosphere, including top-rated venture capitalist, Fred Wilson. Please contact us or stop by our Adams Morgan or U Street locations.

Term Sheet 40

Term Sheet Liquidation Preference Vesting San Diego 40

Both Sides of the Table

FEBRUARY 12, 2015

Yes, I still used a Blackberry in 2009. They signed a term sheet in the wee hours of the morning. A “hats off” (see what I did there?) story about big bets and equally grand huevos. And also a “thank you.” ” I first met Shervin (does he need a last name?) No peaceful distractions allowed.

Las Vegas 150

Las Vegas Los Angeles Ireland Term Sheet 150

chrischandler.name

NOVEMBER 1, 2010

Be prepared with your business plan, term sheet, and probably a beer. Reply squanderingtime says: August 11, 2009 at 05:03 That was largely why I put it together :-). usually haha) Reply Michael Sitarzewski says: August 11, 2009 at 05:53 Not all startups and ideas get the juices going in all developers.

Equity 40

Equity Developer Entrepreneur Syndicate 40

Professor VC

APRIL 1, 2010

There has been a lot of discussion and publishing of standard term sheets, including Y Combinator, TechStars and SeriesSeed. A good comparison of the various "standard" term sheets can be found at Start-up Company Lawyer. Marios firm, Wilson, Sonsini, even has a term sheet generator on their site.

Term Sheet 32

Term Sheet Angel Investor San Jose Venture Capital 32

Both Sides of the Table

JUNE 28, 2011

The biggest media attention in our industry went to the so-called “super angels&# during the 2009/10 timeframe and while I don’t believe there is such thing as a super angel I believe that much media attention was deserved. Spawning of Micro VCs. These people understand that the nature of startups have changed.

Venture Capital 334

Venture Capital Software PHP Open Source 334

Steve Blank

NOVEMBER 5, 2009

Reply Richard Jordan , on November 5, 2009 at 3:36 pm Said: Steve, best article yet. Reply links for 2009-11-05 « Blarney Fellow , on November 5, 2009 at 4:16 pm Said: [.] Reply Knowtu » links for 2009-11-05 , on November 5, 2009 at 5:11 pm Said: [.]

Customer Development 262

Customer Development Developer Customer Silicon Valley 262

Both Sides of the Table

MAY 25, 2013

By 2009 had reduced to around $15 billion in capital from LPs. Many entrepreneurs come by with great pitches and say, “I’m hoping to have term sheets in the next 30 days.” But I became a VC in 2007 and wrote my first check in 2009 – 4.5 And reinventing itself. And some firms will go under.

LP 374

LP Later Stage IRR Term Sheet 374

Steve Blank

NOVEMBER 12, 2009

But Cafepress’s most memorable moment was when the founders used a “Lessons Learned” VC pitch to raise their second round of funding and got an 8-digit term sheet that same afternoon. The VC firm delivered a term sheet for an 8-digit second round that afternoon. Here’s how they did it. And learn from it.”

Venture Capital 209

Venture Capital Silicon Valley RSS Hockey Stick 209

Gust

OCTOBER 8, 2014

I had very smart entrepreneurs where I gave the company $2-3 million and we raised anywhere between $3-5 million and when I put A-round in the term sheet they had their lawyers change it back to seed rounds. I saw this myself a few times in a row.

Cap Table 136

Cap Table Silicon Valley Term Sheet Non-Compete 136

Both Sides of the Table

SEPTEMBER 5, 2012

I can’t say it much simpler than this: “What if I took some of the worst, most egregious terms in a standard term sheet and made them the defacto standard in most convertible debt deals? This has worked very well in the 2009-2012 time frame because the tech market has boomed in this period. That’s right.

Ratchet 354

Ratchet Liquidation Preference Equity Stock 354

Altgate

AUGUST 16, 2010

King&# Approach to Term Sheet Negotiations → Why Don’t Universities Teach Sales? @altgate Startups, Venture Capital & Everything In Between Skip to content Home Furqan Nazeeri (fn@altgate.com) ← Who is this Julian Assange guy anyway? A “Rich-vs.-King&#

Sales 49

Sales Term Sheet Michigan Sales Cycle 49

Austin Startup

MARCH 25, 2011

In today’s bubble-like environment, many think they are going to emerge from a summer program with a fist-full of term sheets. That company, FamigoGames, was indeed selected for our very first program in 2009. In the selection process, I get the chance to meet with founders with varying motivations. Some of them will.

Michigan 82

Michigan Term Sheet Angel Financing Austin 82

Altgate

MARCH 17, 2009

@altgate Startups, Venture Capital & Everything In Between Skip to content Home Furqan Nazeeri (fn@altgate.com) ← Global Nuances of Startup Compensation Obama Shoots Down 90% Tax Bracket → Popular Posts Posted on March 17, 2009 by fnazeeri Once again, here is a list of some of the more popular posts on this blog.

Term Sheet 28

Term Sheet Due Diligence Liquidation Preference Dividend 28

Altgate

JANUARY 21, 2010

Open source is the wrong term though; instead is probably better to say automate since LegalZoom and others are doing the same thing but commercially.

Open Source 33

Open Source Term Sheet HTML Venture Capital 33

SoCal CTO

JULY 13, 2010

How-to learn about angel/vc term sheets - Gabriel Weinberg , June 28, 2010 I think every startup entrepreneur (and angel investor) should have a good understanding of financing term sheets. had two occasions recently to review products which had clear market leadership. Yes, even bootstrappers. liquidation preference.

Cofounder 175

Cofounder Technical Cofounder Term Sheet Startup 175

Professor VC

APRIL 7, 2011

From my experience, negotiating debt deals with an experienced investor will result in a number of the same terms and wont save much (if anything) on legal fees. ► 2009. (7). Particularly, now that standard Series Seed docs are commonly used. So when does convertible debt make sense? Do you have a U.S. ► April. (1).

San Jose 36

San Jose Technical Review Angel Investor Valuation 36

Pascal's View

NOVEMBER 15, 2011

Dan Primack posted an article in Term Sheet last week titled Yelp This: IPO Market Is Killing It. ’ While I commented again on Dan’s article on Term Sheet , below is a more extensive response with additional facts: To be very clear, the central issues behind the systemic dysfunction in the U.S. jobs today.

IPO 31

IPO Term Sheet Marketing United States 31

Altgate

JANUARY 4, 2009

His company is doing well and recently received a couple of term sheets for his first institutional round. A survey of 400 venture capitalists found that 60% predicted a drop greater than 10% in 2009 venture funding (below I’ve embedded the full presentation).

Venture Capital 28

Venture Capital Term Sheet Private Equity Early Stage 28

Austin Startup

SEPTEMBER 20, 2019

CTAN member, Rosa McCormick of Wild Basin Investments, laying down some fantastic knowledge @AtxStartupWeek for entrepreneurs in "Demystify Your Deal: Term Sheets 101"! Some of these tracks include fields such as Blockchain, Cybersecurity, FinTech, International, Social Impact, XR and Fundraising.

Austin 48

Austin Startup Texas Community 48

Feld Thoughts

FEBRUARY 28, 2023

In 2022, just as in 2009, there was only one IPO; typically, there are between three and 16 per year. Samples: The samples in the Annex of the German edition, i.e., the Term Sheet and the Letter of Intent, are essentially based on the samples of the U.S. The detailed work here was probably the most time-consuming.

Germany 165

Germany Liquidation Preference Option Pool Advisory Board 165

Startup Lessons Learned

MAY 31, 2019

He's been with the firm since its inception in 2009 and has overseen its rapid growth, from three employees to 150+ and from $300 million in assets under management to more than $10 billion. Scott Kupor is the managing partner at Andreessen Horowitz, where he’s responsible for all operational aspects of running the firm.

Lean 108

Lean Venture Capital Conversion IPO 108

K9 Ventures

OCTOBER 10, 2017

I’ve been an avid reader of Dan’s Term Sheet while he was at Fortune , and now Pro Rata at Axios. It is what Seed used to be from 2009-2013, until the Seed rounds got fat and bloated and the bar for raising a Seed round became a lot higher. One of the people I respect the most in the VC/PE media ecosystem is Dan Primack.

Seed Stage 82

Seed Stage Finance Later Stage Equity 82

Reid Hoffman

JULY 27, 2021

The Harvard Business School’s business plan competition has been running since 1998; the only competition winner that has achieved any sustained success is Cloudflare (2009). It’s not like after completing the class I was prepared to negotiate a term sheet.

Silicon Valley 69

Silicon Valley Venture Capital Balance Sheet Cofounder 69

Reid Hoffman

JULY 27, 2021

The Harvard Business School’s business plan competition has been running since 1998; the only competition winner that has achieved any sustained success is Cloudflare (2009). It’s not like after completing the class I was prepared to negotiate a term sheet.

Silicon Valley 69

Silicon Valley Venture Capital Balance Sheet Cofounder 69

Professor VC

JUNE 20, 2011

At this time, we had secured a term sheet from a co-investor from one of my other angel investments (Thanks, Graeme!) ► 2009. (7). In fact, since the iControl system was busy taking pictures of all entering our conference room, we could put together a photo album of all these meetings. Do you have a U.S. ► April. (1).

San Jose 28

San Jose Angel Investor Term Sheet Venture Capital 28

Both Sides of the Table

SEPTEMBER 8, 2012

Since 2009 I have been counseling people to offer discounts to the first angel investors. You simply draft up a series seed term sheet. Another easy way to do it is the term sheet create Series Seed A-1 and Series Seed A-2. So we’ve reserved the first $150,000 at a $2.5 million pre-money.

Pre-Money Valuation 294

Pre-Money Valuation Finance Liquidation Preference Warrant 294

Professor VC

JANUARY 20, 2009

Tuesday, January 20, 2009. The funding search began the day after Labor Day and continued throughout the fall as the environment continued to worsen, and resulted in a term sheet the day before Thanksgiving. ▼ 2009. (7). ProfessorVC. The last blogger in Silicon Valley. The Most Important Venture Capital Statistic.

Venture Capital 28

Venture Capital Silicon Valley San Jose Bootstrapping 28

Altgate

APRIL 26, 2009

I’ve mentioned this survey several times before, but this time I bring news of the 2009 survey opening to participants. I think the 2009 data will be very interesting as it will reflect the effects of the overall economy as well as provide global comparisons. 2009 Startup Executive Compensation Survey Opens [.]

Term Sheet 60

Term Sheet Venture Capital Startup 60