Bootstrapping Burn Rate Dilution Social Network 
Professor VC
JANUARY 17, 2008
I guess you can make the argument that the founders keep more of the company under the take angel money at a $1M pre-money valuation, but the stars need to be aligned and it is much more likely that initial VC funding in the angel scenario would be at a lower valuation with significantly more dilution. Bootstrapping 101. ► May.
Professor VC
JUNE 20, 2011
While my ownership stake in the company has been diluted through these financings (and the merger with uControl), my carried interest (paper value of my equity) has been going up with each increase in valuation. While bootstrapping, there are multiple options from doing as a side project, changing the business, raising angel or venture, etc.
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