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its a guess. they received Series A in a very early stage, just out of the oven of YC's (may '08)
by cuchoperl 16y ago
its a guess. they received Series A in a very early stage, just out of the oven of YC's (may '08)
- swombat 16y agoEven so, giving up percentage is like giving blood. I don't know of any founder who would ever willingly part with 60% of the company - particularly if it's doing well! The only people who give up 60% of a company are the poor guys on dragon's den...
- mlinsey 16y agoThis, and also competent VC's (and Heroku's VCs are top-notch) don't want much more than a third of the company in a single round, as it makes it far too difficult for the company to raise capital that it may need in later rounds.
- robfitz 16y agoYour math is just backwards. You have left them with what's taken away, rather than what they keep. A 1M on 2M pre deal would leave the founders with 66%, not 33%.