Unintended Consequences: When SAFE and Convertible Notes Go Awry
Pascal's View
JULY 9, 2017
In contrast, there is limited benefit for being the 2 nd investor or the 10 th investor joining the syndicate of a priced round, so it is common for investors to wait to see “who else is involved”. The CEO/founder often has leeway to influence or negotiate the cap value (especially when the headline cap is softened by a discount).
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