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Advisor. ); STARTUP. Before Roving Software could receive its first round of financing from professional investors, in early 1999, he had to put all the stock arrangements in writing. That cost him accounting fees, legal fees, and time because the financing round couldnt close until the arrangements were formalized. Newsletters.
Well yeah, you could potentially find a cofounder. With higher pricing and other things in that nature, maybe annual pricing and so on, you could probably get enough money together to start having an employee if a cofounder doesn’t sound good. There’s a third alternative, and that’s a cofounder.
VMware—Diane Greene. (*) While not technicallycofounders, Andy Grove and Thomas Watson, Sr. Andy Grove was Intel’s third employee (after the two cofounders Robert Noyce and Gordon E. Despite this dynamic history, modern record company executives badly missed the most sweeping technical innovation—the Internet.
At this stage you’re essentially selling yourself and your cofounders. There are so many Facebook/Google/Apple multi-millionaires who receive new stockoptions every quarter, often a few hundred thousand dollars every quarter, that feel they should put something back into the system, plus they like the idea of being an investor.
Post launch, if you gain traction, is where the business person will help take the load off of the technical folks. The business person can take all the meetings while the technical folks work on making the product better. Ron Oh and another factor to bring reality to the table - Sometimes you find out your cofounders suck.
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