Both Sides of the Table
DECEMBER 11, 2022
We had nascent revenues, ridiculous cost structures and unrealistic valuations. I learned to avoid unnecessary conferences, avoid non-essential costs and strive for at least a neutral EBITDA if for no other reason than nobody was interested in giving us any more money. Until we weren’t. Nobody cared about our valuations any more.
Agile VC
APRIL 17, 2011
At the end of the day Kayak’s playing a key role in the online travel process, but it appears more of the revenue comes from filling top of the conversion funnel rather than the middle or bottom of it. liquidation preference, 6% accumulated dividend (1). Series A-1 Preferred. Series B Preferred.
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Both Sides of the Table
SEPTEMBER 18, 2014
At an accelerator … Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago.
The Equity Kicker
OCTOBER 22, 2012
Many of the conversations and talks there revolved around the importance of having big ambition and of doing quality work. Betting too early on a billion dollar outcome and building up a big liquidation preference can turn what would otherwise have been a decent success into a failure.
Both Sides of the Table
FEBRUARY 15, 2016
How much your company should burn should also have a direct correlation with whom your existing investors are and I strongly advise that you have open conversations with them about their comfort levels and also the level of support you are likely to receive going forward. They may push you to cut costs.
Both Sides of the Table
SEPTEMBER 5, 2012
Because convertible debt deals often have both a ‘full ratchet’ and often have ‘multiple liquidation preferences’ “ Yup. Convertible Notes Also Can Have Multiple Liquidation Preferences. Convertible notes often have multiple liquidation preferences. That’s right.
Both Sides of the Table
JANUARY 21, 2010
You never got around to agreeing exact equity splits but you had many conversations about it. They’ll invite you out to events in which you’ll meet their other clients, you can get to know them socially and hopefully develop a real mentorship relationship where every conversation is not on the clock.
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