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Startup 125: Term Sheet - Liquidation Preferences
- jag 17y agoThis is the second in a series of posts about VC term sheets. After valuation, Liquidation Preferences can be very dilutive. Liquidation Preferences sound like a preference for who has the right to drink from the water cooler first. And metaphorically, that is correct. They say who drinks from the proceeds from the sale of a company first.