Board Effect

MAY 10, 2019

Such metrics can include an investor’s liquidation preference, option exercise windows and expiry dates, and shareholders’ fully diluted ownership percentages. There’s the owner—maybe a partner or two—but unless employees are offered equity from the get-go, there’s typically not a whole lot of dilution.

Cap Table 40

Cap Table Liquidation Preference Dilution Liquidity Event 40

Hippoland

MAY 16, 2018

I put “equity” in quotes because I include convertible notes and convertible securities in this category.) Because most startups will end up raising tranches of money from multiple parties, many startups will use convertible securities (SAFEs / KISSes) or convertible notes. E.g. $200k on $3m.

Seed Stage 48

Seed Stage Valuation Convertible Security Equity 48

Hippoland

MAY 16, 2018

I put “equity” in quotes because I include convertible notes and convertible securities in this category.) Because most startups will end up raising tranches of money from multiple parties, many startups will use convertible securities (SAFEs / KISSes) or convertible notes. E.g. $200k on $3m.

Seed Stage 48

Seed Stage Valuation Convertible Security Equity 48