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Time is the Enemy of All Deals

Both Sides of the Table

million at a $15 million pre-money valuation. We had people hearing through the grapevine that we were about to raise money and new investors started calling us to get in on the deal. If it’s a biz deal you might care about IP protection, revenue share, investment commitments to joint marketing – whatever.

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How to Start a Startup

www.paulgraham.com

But its hard to raise money with an IP cloud over your head, becauseinvestors cant judge how serious it is. Our existing investors, knowing that we needed money and had nowhereelse to get it, at this point attempted certain gambits which Iwill not describe in detail, except to remind readers that the word "angel" is a metaphor.

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