It's not that $120K is nothing, it's that they already had $1M in funding, which they must have gotten way more cheaply than the YC money. If you just value th

It's not that $120K is nothing, it's that they already had $1M in funding, which they must have gotten way more cheaply than the YC money. If you just value the company at the amount of money in the bank, the 7% stake they traded to YC is worth $70K today (of course it's more complicated than that - I'm just spitballing numbers).