4 ms·
It's probably a seed round and not an A round from the terms the round was raised. Typically an A round comes with different terms like boards seats, lead inves
by danielpal 14y ago
It's probably a seed round and not an A round from the terms the round was raised. Typically an A round comes with different terms like boards seats, lead investors, pro-rata right etc. Also A rounds are always priced rounds with stock issued. Seeds are normally not priced and instead debt (convertible note) is issued.
- dude_abides 14y agoI believe board seats and lead investor/pro-rata rights are just negotiation terms and not a must for a Series A. Your other point is a good one. If there was no valuation and only convertible notes were issues, then I understand why this would not be a Series A.