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The terminology has been butchered, not least because of VCs wanting to get into earlier stage and changing how they deal with companies. I've heard pre-seed as
by ccvannorman 10y ago
The terminology has been butchered, not least because of VCs wanting to get into earlier stage and changing how they deal with companies. I've heard pre-seed as well, but realistically if you don't have significant progress, the days of paper-napkin idea => investment are pretty much over AFAIK.
- graycat 10y agoIMHO, for professional investors, the "significant progress* is judged by traction as I described. Then, for a Web site startup, traction means users and ad revenue, and quickly a sole founder is nicely profitable with cash enough for organic growth and no equity funding needed.