Eric Friedman

DECEMBER 27, 2021

5/ The rise of operator angels + micro VCs explodes in 2021. This is already happening, but there will be an explosion of rolling funds, operator angels, and micro investors who want to co-invest in friends, companies, and cohorts they are a part of. This sort of happened. 6/ I don’t get the vaccine for COVID19 (but want too!).

Balance Sheet 97

Balance Sheet Stock Private Equity Option Pool 97

Both Sides of the Table

AUGUST 3, 2010

If they raise a bunch of capital little ole you isn’t going to be around to have your option pool topped up. But they’re big and they have very experienced operators like Brett Brewer running things. The moment you sell, somebody else controls the exit timing, exit price, capital raising, etc.

Merger 276

Merger Technical Review Early Stage Dilution 276

Eric Friedman

DECEMBER 30, 2020

5/ The rise of operator angels + micro VCs explodes in 2021. This is already happening, but there will be an explosion of rolling funds, operator angels, and micro investors who want to co-invest in friends, companies, and cohorts they are a part of. 6/ I don’t get the vaccine for COVID19 (but want too!).

Stock 120

Stock Private Equity Option Pool LP 120

VC Adventure

NOVEMBER 1, 2018

Some prefer to start with the team in the room for the operational review and reserve the end of the board meeting for board business. The former is nice because you won’t be rushing to approve minutes, option grants, lease approvals or whatever else it is that you need done as “official business.”

Design 257

Design Option Pool Operations Conversion 257

Agile VC

APRIL 17, 2011

2010 Operating Income: $16 million. Precise valuations are impossible to determine because of adjustments to employee option pools, possible buybacks of common stock, etc. Gross Margin: 94% –> i.e. for every $1 of revenue Kayak only spends $0.06 2010 Net Income: $8 million. Search Statistics: 2010 Queries: 634 million.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

www.inc.com

SEPTEMBER 24, 2011

Office and Operations. If youre offering the consultant stock options, youll also want to take into consideration what the exercise price is going to be and how long the options will be outstanding. Create an options pool, if nothing more than in your mind, so you have some parameters to work within," Durkin says.

Fractional CTO 40

Fractional CTO Equity Iowa Technical Cofounder 40

ithacaVC

JANUARY 24, 2013

The X and Y are negotiated, with the Y typically being a date shortly before the convertible debt is all used up by the company in its operations. Option pool: 500,000 shares (some issued, some reserved, but that is typically irrelevant as the whole pool is normally factored into the premoney share price calculation).

Valuation 53

Valuation Balance Sheet Option Pool Dilution 53