Both Sides of the Table

DECEMBER 17, 2009

Ability to Pivot – I don’t like to invest in people that I’ve never met before who come through my office wanting to have a term sheet within 30 days. Yes, there is the mythical company you all heard about that walked into Sequoia and had a term sheet 24 hours later. I’m sure that happens.

Entrepreneur 291

Entrepreneur Term Sheet Early Stage Affiliate 291

Both Sides of the Table

OCTOBER 17, 2009

If a VC term sheet comes in they begin their due diligence process. One of the hotter companies lately in the mobile social networking is FourSquare, which raised $1.35 When we funded our two seed deals we used the Y Combinator Open Source Term Sheet and were highly entrepreneur friendly. The contra is also true.

Software Review 283

Software Review Term Sheet Due Diligence Southern California 283

Tim Keane

JANUARY 12, 2010

Term-sheets and Valuations: Thinking about Negotiations. Please see later version of this post on May 16, 2010 Entrepreneurs are often not experts in the area of term-sheet negotiations and all of the surrounding issues.   Investors sometimes “present” the terms they’d like and expect the entrepreneurs to react.

Term Sheet 68

Term Sheet Valuation Dividend Liquidation Preference 68

Both Sides of the Table

DECEMBER 2, 2010

His term sheet series helped me at a time when I needed help. At Andersen Consulting I had built computer networks and programmed in COBOL. He introduced me to a senior guy from the “network solutions&# practice, a Dutchman named Valentijn Bonger. I started blogging because Brad Feld blogged.

Europe 352

Europe France San Francisco Chicago 352

VC Cafe

AUGUST 11, 2022

If you agree that the top founders are likely to receive multiple term-sheets, then the importance of founder-investor fit increases. In the case of Echo3D, I didn’t wait for the term sheet to be signed to start providing value. Personal fit. Choose a partner, not just a fund.

Founder 187

Founder Term Sheet Cofounder Venture Capital 187

Both Sides of the Table

APRIL 23, 2017

But if you work your entrepreneur network, talk with lawyers who do a ton of startup deals, ask existing investors, etc. Or ask anybody who has had a VC pull a term sheet for whatever reason. It sounds like a lot to know — and it is. you can usually get a sense of things. You’re not done until you’re done. That’s fantasy land.

Burn Rate 238

Burn Rate Term Sheet Fractional CTO CTO Hire 238

View from Seed

MARCH 11, 2020

Typically, founders ask for investor references after a term sheet as been presented or there has been some clear approval from their team to move forward with the investment. But along the way, you should also be talking to folks in your network that have experience with the particular investor and firm.

Technical Review 279

Technical Review Due Diligence Term Sheet Seed Stage 279

Steve Blank

APRIL 1, 2020

Some VC’s are walking away from signed term sheets. For those remaining employees, offer remote therapy to deal with the stress of working from home and pay for any equipment/network upgrades. If you were expecting angel or venture funding get on the phone to your investor(s). Others are cutting their valuations.

South Korea 334

South Korea Salary Business Model China 334

Startup Professionals Musings

MARCH 27, 2016

If all this checking sounds a bit paranoid and unnecessary, it may be time to take another look at some questionable investor practices and onerous term sheet requests. Through networking with other entrepreneurs, you should find one or more to visit that have relationships with this investor. It’s no fun for either side.

Technical Review 120

Technical Review Due Diligence Term Sheet Offshore 120

Version One Ventures

JULY 20, 2017

Intrigued, Boris reached out to Mike Murchison and learned that he and his co-founder David Hariri were building a social network to help others solves problems online. . Needless to say, Boris and I were super excited when Mike and David received a term sheet from Bessemer. That’s a win for everyone. .

Artificial Inteligence 150

Artificial Inteligence Silicon Valley Stealth Term Sheet 150

Mucker Lab

AUGUST 27, 2014

Encyclopedic knowledge of term sheets and startup buzzwords can be quickly learned, trained, and packaged. In Silicon Valley, given how tightly knit the ecosystem has become, and how well-networked entrepreneurs have learned to be, there is almost no such thing as “proprietary” deal flow.

Los Angeles 138

Los Angeles Southern California Silicon Valley Technical Review 138

Both Sides of the Table

OCTOBER 2, 2015

It was on par with DreamForce in attention to detail, networking potential, entertainment and speaker quality. The speakers get what they want (small, private networking) and the audience gets what they want – world-class speakers. If you want to network you need to plan relentlessly in advance. ” It is what it is.

Web 150

Web Las Vegas Technical Review Term Sheet 150

Hunter Walker

JANUARY 5, 2014

We’re also being more specific about what our term sheet would look like from a size and valuation perspective, potentially even proactively generating something to show the entrepreneur we’re serious. I think networking is a terrible word. ” I try to spend zero percent of my life networking.

Software Review 120

Software Review Balance Sheet Cofounder Technical Review 120

reidhoffman.org

NOVEMBER 12, 2013

This gave me an idea: I could help many more entrepreneurs by making the deck available not just to the Greylock network of entrepreneurs, but to everyone. Friendster’s valuation set the tone for the entire social networking space. The graphic we chose emphasizes that it is a network of people. Why is it valuable?

Entrepreneur 111

Entrepreneur Viral Revenue Networking 111

This is going to be BIG.

SEPTEMBER 30, 2012

How else can you explain this headline matching a story about a professional social network still trying to explore revenues raising $17mm on an $80mm valuation? This is a company that, according to the article, got term sheets from half of the VCs that expressed interest in the company. Perhaps I need to rethink that.

Venture Capital 120

Venture Capital Marketing Term Sheet Software Review 120

Up and Running

JANUARY 26, 2012

Similarly, if the investment is for growth capital, as opposed to capital to keep you afloat, the circumstances and investment terms will vary. Firstly, you need to identify some potential smart investors (by ‘smart’ I mean investors who bring more to the table than just cash i.e. access to a network of contacts, distribution etc).

Term Sheet 94

Term Sheet Exit Strategy Software Review Early Stage 94

View from Seed

SEPTEMBER 4, 2018

As seed funds have raised larger and larger funds, more have developed the muscle around issuing term sheets and “leading”. When we started the firm, we were also more narrowly focused geographically due to our smaller team and network.

North America 120

North America Seed Stage Early Stage Lead Investor 120

Hunter Walker

OCTOBER 31, 2020

Qualification #2: You have access to a particular network of potential dealflow that is additive to the firm’s current strengths. Venture Deals: Be Smarter Than Your Lawyer And Venture Capitalist (Feld; Mendelson) is the best book to read if you want to understand venture capital, term sheets, etc. The school you went to.

North Carolina 104

North Carolina Hiring Angel Investor Technical Review 104

Both Sides of the Table

MARCH 23, 2015

” He has publicly espoused building products for “non logged in users” and has benefitted greatly from his thesis of large networks of socially connected & like minded individuals. Let’s see: Twitter, Tumblr, Etsy, KickStarter … not bad, hey? But Fred got me to see a broader perspective.

Los Angeles 150

Los Angeles Silicon Valley Term Sheet Video 150

Feld Thoughts

OCTOBER 15, 2013

When David Cohen and I came up with the idea for the Global Accelerator Network (GAN) in 2010, we counted roughly 100 accelerator programs around the US that were founded following the Techstars model. From that initial outreach, 16 high quality accelerator programs joined us to launch the network. Others are not.

Global 179

Global Networking United States Seed Money 179

Gust

SEPTEMBER 27, 2014

There’s no use banging your head against a VC’s door with a social network venture if they only invest in biotech companies. As noted above, most investors find most of their best investments through recommendations from people in their network, and that network now includes…you!

Angel Groups 159

Angel Groups Elevator Pitch Software Review Deal Flow 159

Hunter Walker

APRIL 20, 2014

And your term sheet waits at the bottom. A network effect? Still lots of hard work and good fortune to close the deal, but your term sheet is right on the other side.' Now I want to spend a few paragraphs on framing the pitch — I call it The Belief Funnel. Do I Believe There’s a Market Here?

Term Sheet 110

Term Sheet Lean Distribution Web 110

This is going to be BIG.

OCTOBER 12, 2020

One just got a seed term sheet for twice the valuation I put in at in the pre-seed and the other is doing $200k/month in revenue. I took my last LP meeting the first week of March and clearly, I didn’t close anyone that I had met with at that time.

LP 146

LP Technical Review Software Review Valuation 146

ReadWriteStart

JUNE 1, 2020

It is essential to understand the funding structure stated in your term sheet and the advantages and disadvantages it may have for your business. Accelerators and incubators support the startups with a small amount of funding, mentorship, networking opportunities, resources, and workspaces. ? Government programs.

Startup 150

Startup Entrepreneur Elevator Pitch Seed Stage 150

VC Cafe

NOVEMBER 15, 2010

Fred Wilson warns that it is starting to feel like a bubble again, with VCs writing $5 and $10 million dollar checks with very little due diligence, sometimes showing up to a first meeting with a term sheet… Israeli startup headlines for Nov 15, 2010. Funding news. venturebeat ].

Technical Review 79

Technical Review Matching Israel Venture Capital 79

VC Cafe

NOVEMBER 15, 2010

Fred Wilson warns that it is starting to feel like a bubble again, with VCs writing $5 and $10 million dollar checks with very little due diligence, sometimes showing up to a first meeting with a term sheet… Israeli startup headlines for Nov 15, 2010. Funding news. venturebeat ].

Technical Review 79

Technical Review Matching Israel Venture Capital 79

VC Cafe

NOVEMBER 15, 2010

Fred Wilson warns that it is starting to feel like a bubble again, with VCs writing $5 and $10 million dollar checks with very little due diligence, sometimes showing up to a first meeting with a term sheet… Israeli startup headlines for Nov 15, 2010. Funding news. venturebeat ].

Technical Review 79

Technical Review Matching Israel Venture Capital 79

VC Cafe

NOVEMBER 15, 2010

Fred Wilson warns that it is starting to feel like a bubble again, with VCs writing $5 and $10 million dollar checks with very little due diligence, sometimes showing up to a first meeting with a term sheet… Israeli startup headlines for Nov 15, 2010. Funding news. venturebeat ].

Technical Review 79

Technical Review Matching Venture Capital Israel 79

YoungUpstarts

JUNE 17, 2013

Understand a term sheet. Make decisions off cohort tracking. Become a Google analytics expert. Write a blog post. Deliver a keynote. Build Links. Conduct customer interviews. Segment a market. Recruit and Train. Train an intern. Hire A Players. Replace B Players. Cold call C level executives. Write a novel. Raise Money. Bootstrap.

Advisory Board 279

Advisory Board Balance Sheet Term Sheet Entrepreneur 279

Berkonomics

MAY 15, 2014

A good example was during the negotiation of a term sheet. These usually involve a handful of angel investors, and a few entrepreneurs, who all want to build the very best term sheet for their exciting nascent enterprise.

Term Sheet 91

Term Sheet Angel Groups Angel Investor Deal Structure 91

Gust

AUGUST 6, 2014

In all cases, the one fundamental requirement is that the company and the investor agree on how much is being invested, and on what terms. These items are included in what is known as a term sheet. What the terms end up being, and how a company and the investor(s) arrive at that term sheet, can differ widely.

Term Sheet 170

Term Sheet Lead Investor Preferred Stock Common Stock 170

Up and Running

MAY 11, 2016

He’s perhaps best known for having founded Gust —a website that connects startups with investors—but he’s also been instrumental in a number of other ventures, including Space Angels Network, Singularity University, New York Angels, and Rose Tech Ventures.

Technical Review 60

Technical Review Term Sheet Startup Due Diligence 60

Sophia Perl of Wisdom

NOVEMBER 9, 2010

My one feedback would be to have networking earlier in the agenda or sprinkled throughout the 6 hour agenda. Use the 10-5-3-1 formula for raising money: Have 10 great meetings with investors, 5 of those do detailed due diligience on your company, get 3 term sheets, and 1 transfer into your bank account!

CTO Hire 49

CTO Hire Cofounder Fractional CTO San Francisco 49

Reid Hoffman

JULY 27, 2021

The Network May Not be as Valuable as It Seems. Even critics of business school will generally acknowledge that attending a top-tier school helps the student build a strong personal network. But how strong is that business school network actually useful for entrepreneurs? Networks are both safety nets and trampolines.

Silicon Valley 69

Silicon Valley Venture Capital Balance Sheet Cofounder 69

Reid Hoffman

JULY 27, 2021

The Network May Not be as Valuable as It Seems. Even critics of business school will generally acknowledge that attending a top-tier school helps the student build a strong personal network. But how strong is that business school network actually useful for entrepreneurs? Networks are both safety nets and trampolines.

Silicon Valley 69

Silicon Valley Venture Capital Balance Sheet Cofounder 69

Both Sides of the Table

APRIL 14, 2012

…” I’ll write soon on my views of why I believe Instagram took off as a social network and what I think comes next. Instagram happens to be one of the few social networks I regularly use along with Twitter. Just checked their balance sheet. Clichés abound about, “You know what would be cool?

Valuation 316

Valuation Balance Sheet Dilution Term Sheet 316

Both Sides of the Table

APRIL 25, 2013

We had them a term sheet the same week. And still able to make it out to LA networking events. Turns out Punky was a childhood hero for Tasha. That’s cute. They pitched on a Wednesday. I had them at my partners’ meeting the next Monday. We signed it the following week. That happens, right? Well, sort of.

Haiti 398

Haiti San Francisco Startup Turkey 398