3 ms·
liquidation pref: a subtle property of conversion (if you buy preferred only at the cap price instead of effective price you are effectively getting >1x your pr
by joshu 12y ago
liquidation pref: a subtle property of conversion (if you buy preferred only at the cap price instead of effective price you are effectively getting >1x your preference by ending up with more shares.)
anti-dilution: only if negotiated
- tptacek 12y agoMy current impression is that the "full ratchet" he's referring to is conceptually just the deferred valuation itself.