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Bad Notes on Venture Capital

Both Sides of the Table

Revenue multiple? Convertible notes were previously used primarily for “inside rounds” in which the existing investors provide you with bridge financing to get to the next round. How will you price the next round? Your A round? Him: On metrics. We’ll have some proof points by then. What proof points?

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Bad Notes on VC

Gust

Revenue multiple? Convertible notes were previously used primarily for “inside rounds” in which the existing investors provide you with bridge financing to get to the next round. How will you price the next round? Your A round? Him: On metrics. We’ll have some proof points by then. What proof points? EBITDA multiple? Employment.