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Ten million users is the new one million users

cdixon.org

Some observations: - Thousands of early-stage consumer web/mobile companies were started and funded in last 24 months. It’s becoming increasingly common for early-stage consumer startups to do bridge financings (raising more money from past investors, usually on terms similar to the prior round) instead of Series As. -

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The Option Pool Shuffle

venturehacks.com

Given that many companies are doing convertible note bridge financings as their seed round, this seems to come up relatively often. Much information is available on the web. Remember, more fully-diluted shares outstanding drives the Series A price per share down, resulting in more dilution to the founders. a legal one.