Andy Jenak
๐ค SpeakerAppearances Over Time
Podcast Appearances
And then after that, we brought me on and that we expanded it from there.
But we haven't brought too much capital in, which is interesting.
We have a bunch of individual investors.
Most of them are our customers.
Most of them are CEOs of our companies who just love our product and want a piece of the action.
They've all invested, but the total investment of the company is less than $5 million.
We've just done really, really well on our own steam.
Yeah, we do a convertible note.
There's a lot of ways to do it.
And I think for your listeners, if they're interested in investing, there's a lot of CEOs out there who are going to put pre-money, they're going to put a big price tag on their company saying, this is a $40 million idea.
So you invest on a convertible note and it's a $40 million valuation.
I think that there's a lot of people who value the company too high.
We didn't do that.
We took a very fair handed amount of valuation with the company.
We've slowly grown that amount, the cap of the note, the discount to a note over time as we've shown that we've been able to grow the company.
So it was very fair, very even handed.
And as we've grown, we've got a really great syndicate of guys who are part of the team.
You know what?
We're actually right now raising our very first institutional round.
All right.