Agile VC

APRIL 17, 2011

In 2010 I deconstructed the filings for GameFly and Quinstreet. GameFly filed in 2010 and remains in registration, though 2011 has seen a positive start for VC-backed IPOs with 14 in Q1 2011. Filing Date: initial S-1 filed Nov 17, 2010 , updated March 9, 2011. Financial Snapshot: 2010 Revenue: $170 million.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Both Sides of the Table

APRIL 14, 2010

It is 2010. That means that they likely raised money at a particularly high price relative to 2010 prices. That means that the likely have a minimum of $15 million in liquidation preferences. Liquidation preference is the amount of money that an investor gets paid before the common stock (e.g. Reputation.

Venture Capital 289

Venture Capital Liquidation Preference Common Stock Dividend 289

SoCal CTO

JULY 13, 2010

This continues my series of posts: Top 29 Startup Posts May 2010 Startup CTO Top 30 Posts for April 16 Great Startup Posts from March There was some really great content in June. " 8 Questions to Ask When Interviewing at a Startup - Instigator Blog , June 18, 2010 Job interviews are meant to be conversations. Now I have.

Cofounder 175

Cofounder Technical Cofounder Term Sheet Startup 175

Feld Thoughts

FEBRUARY 9, 2016

Much of it is very short term focused and, like a giant tractor beam, draws the conversation into a very short time horizon (as in days or weeks). But, more importantly, is another point Mark buries later on, which includes an awesome post of his from 2010. Then use the down round to clean up your preference overhang.

Cap Table 70

Cap Table Down Round Liquidation Preference Founder 70

Tim Keane

JANUARY 12, 2010

Bottom Up Market Sizing » January 12, 2010. Please see later version of this post on May 16, 2010 Entrepreneurs are often not experts in the area of term-sheet negotiations and all of the surrounding issues. Second a liquidation preference and a participation. « Power of Angel Investing in Milwaukee | Main.

Term Sheet 68

Term Sheet Valuation Dividend Liquidation Preference 68

Scott Edward Walker

APRIL 22, 2012

This part 2 will address the economics of a convertible note seed financing and the three key economic terms: (i) the conversion discount, (ii) the conversion valuation cap and (iii) the interest rate. Part 3 will cover certain special issues, such as (i) what happens if the startup is acquired prior to the note’s conversion to equity?

Pre-Money Valuation 72

Pre-Money Valuation Finance Liquidation Preference Founder 72

Feld Thoughts

JUNE 2, 2015

Or, if you just want the paragraph, it’s: “If this note converts at a price higher than the cap that you have been given you agree that in the conversion of the note into equity you agree to allow your stock to be converted such that you will receive no more than a 1x non-participating liquidation preference plus any agreed interest.”.

Liquidation Preference 70

Liquidation Preference Cap Table Angel Investor Post-Money Valuation 70