David Teten

JANUARY 19, 2021

The value ascribed by subsequent investors (in a secondary); buyers (acquisition); or the public markets (IPO). Eligible for favorable treatment under Qualified Small Business Stock exemption, if structured as equity. This applies if the investment converts into common stock; details are beyond this essay’s scope. Governance.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

www.paulgraham.com

APRIL 28, 2010

You give a startup money and they give you stock. Youllprobably get either preferred stock, which means stock with extrarights like getting your money back first in a sale, or convertibledebt, which means (on paper) youre lending the company money, andthe debt converts to stock at the next sufficiently big fundinground. [

Angel Investor 63

Angel Investor Syndication Syndicate Dilution 63

Agile VC

SEPTEMBER 15, 2011

Startup IPO Market: A Fickle Mistress. The IPO market, she is a fickle mistress. In the first half of 2011, the IPO markets were looking strong for VC-backed companies. For a time that meant that other category leaders accelerated their own IPO plans… think Groupon and Zynga. How to Evaluate Firms for a Seed VC.

IPO 100

IPO Marketing Silicon Valley Private Equity 100

Agile VC

APRIL 17, 2011

GameFly filed in 2010 and remains in registration, though 2011 has seen a positive start for VC-backed IPOs with 14 in Q1 2011. Now that Google’s acquisition of ITA is closed, following lenghty FTC review, it would appear Kayak is poised to proceed with their IPO in the coming months. =. Quinstreet priced at $15.00/sh

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Agile VC

MAY 26, 2011

Google is still a private company (their IPO was Aug 2004). And obviously all the liq prefs went away in the IPO when pref stock converted to common. We ultimately had a good outcome with our Series A but I assure you it required some hard work and we faced plenty of skepticism. What’s Your Favorite Future?

Term Sheet 178

Term Sheet Silicon Valley Technical Review Social Network 178

www.paulgraham.com

APRIL 28, 2010

In an IPO, it might not merely addexpense, but change the outcome. A lawyer I asked about it said: When the company goes public, the SEC will carefully study all prior issuances of stock by the company and demand that it take immediate action to cure any past violations of securities laws. In Boston thebiggest is the CommonAngels.

Technical Review 76

Technical Review Startup Software Review Angel Investor 76

Agile VC

JUNE 5, 2011

So Groupon obviously filed their S-1 the other day to formally being the IPO process. The latter are included in free cash flow whereas the former are excluded, since they’re one-time in nature and it’s possible stock is used instead of cash for acquisitions. AGILEVC My idle thoughts on tech startups. June 5, 2011.

North America 100

North America Chicago Boston Silicon Valley 100