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> Our board could pressure us to take certain decisions, but Tim (co-founder) and I are ultimately in control – after our series B, we've got control of three o
by akerl_ 4y ago
> Our board could pressure us to take certain decisions, but Tim (co-founder) and I are ultimately in control – after our series B, we've got control of three out of five seats. Control is something we can negotiate each time we fundraise.
So after the series B, you’re already down to 60% control with your investors holding 40%… sounds like this isn’t a myth.
- raiyu 4y agoYou may have 3 out of 5 board votes, but unless you have complete control and full voting control they usually have carve outs like approving any change of control (aka selling the company). You may receive a buy-out offer you find very interesting but your board is against it and then you find out very quickly how much control you actually gave up and how aligned you really were.