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.” I applaud all efforts by people to take on this issue and especially be Adeo who – let’s be honest – was really the first champion of trying to make the VC world more transparent by launching TheFunded, which didn’t exactly endear him to VCs initially. They’ll get priced soon enough by a VC.”
And yes, VC’s, too. We had the final terms of our agreement fairly well boxed in within a range of about 5-7% on price and within 30 days on move-in date. I obviously preferred the lowest price and I wanted the latest move-in date. She told me, “start with the price you want but the move in date he wants.&#.
But, there is broad agreement that it would be a wonderful thing to get more entrepreneurs and venturecapital into the region. As you know, Silicon Valley has a locker grip on the venturecapital community. I think our board is agreement for the need for more venturecapital. It's a great place.
On the phone … Me: So, you raised venturecapital? Me: At what price? Him: It wasn’t priced. So you did raise with a price. It’s just a maximum price. Him: But when I raised my first round we didn’t know how to price the company. How will you price the next round?
We were trying to optimize around a few criteria: price, size of round, number of syndicate partners and, of course, terms. My co-founder and other management team members wanted us to hold off and see whether we could get the deal done at a higher price. Many deals – VC or otherwise – didn’t close. Especially in VC.
I don’t think any serious VC or angel thought it was “collusion.&# Let’s be honest – as professional investors we have ALL been to meetings with other groups of investors where we talk about whether there’s a bubble, price creep, etc. Should entrepreneurs have convertible debt or priced equity?
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