5 ms·
So the SEA functions as a sort of hybrid preferred shares/convertible note?
by elliekelly 8y ago
So the SEA functions as a sort of hybrid preferred shares/convertible note?
- tylertringas 8y agoNot really either of those. A closer version would be profit-share + a SAFE. The primary function is for us to share in the profit (or more specifically "founder earnings") of the business alongside the founder(s). If you sell the business or decide to raise a big equity round later, we convert a lot like a SAFE.
- deleted 8y ago[deleted]