www.payne.org

SEPTEMBER 22, 2011

The preferred stock held by investors has (as the name implies) more rights and privileges than the common stock issued to employees. Companies raise money by selling new stock after the board of directors authorizes the sale to investors. The other factor is the "cap table" (capitalization table, or summary of who owns what stock).

Equity 56

Equity Employee Vesting Preferred Stock 56

abovethecrowd.com

APRIL 20, 2016

The reason these terms can produce returns by themselves is that they set the stage for a rejiggering of the capitalization table at some point in the future. They basically cannot afford to expose themselves to any more risk in a particular name. The voracious Unicorns need even more capital than these big-boys can afford.

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

Up and Running

JULY 14, 2015

His name is Charlie and he responded to our question last week about whether you should stick to the plan or change it. I’d implemented a business plan including marketing, engagement, sales strategy and realized a few months in that it wasn’t servicing a key influence or in the sales process. Great episode.

Incubator 60

Incubator Email Startup Oregon 60