13 ms·
of course you could go "the producers" route, sell 50% for 100k then make such a balls up of it that it doesn't go any further than that initial funding. Take y
by celticninja 13y ago
of course you could go "the producers" route, sell 50% for 100k then make such a balls up of it that it doesn't go any further than that initial funding. Take your $100k and use it to fund your own startup.
;)
- RealGeek 13y agoI don't think you can do that. You can not cash out the $100k you just got as investment, it goes into company's account and remains under company's control. With 50% you not only give up equity, but even control. I believe this accelerator may also ask for multiple board seats. The investor here will have the biggest stake and control of the company.
- sitkack 13y agoI think what parent means is mini vacation while you figure out your next move, but I am sure tongue in cheek. Seems like a waste of money and time all around. This loan shark territory.
- deleted 13y ago[deleted]
- celticninja 13y agoYou dont even need a "no extradition treaty" country, just be russian and move back to russia, of course that has the negative points of, you know, having to live in russia.
- cwaniak 13y agowhere $100k isn't too much anyway
- mathrawka 13y agoIt sounds like they want 50% and access to the board, so you are restricted from paying your own salary unless you get their approval.