Nathan Latka
👤 SpeakerAppearances Over Time
Podcast Appearances
Wow.
That's a lot of people on a board for a company at angel stage.
Yeah.
Oh yeah.
And you, and also you rarely, I mean, you don't want to have an even number on your board because then you have to deal with ties.
Um, all right.
What was the third company?
So how much did you raise in what year?
What cap did you negotiate?
What cap did you negotiate, or was it an uncapped convertible note?
I mean, so that would be a 10 million cap.
Well, there is no valuation on a... I mean, there's a cap of $10 million, right?
So when you use the word valuation, what do you mean?
I see.
Got it.
Point being, you sold 5% of the business once it converts for $500K.
Got it.
That's a high valuation.
That can be a bad thing because you have to grow into it.
It also resets the pricing of your options, makes it harder to recruit or defend a lower 409A valuation.