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Reflecting on My Failure to Build a Billion-Dollar Company

(medium.com)
2101 points jamesjyu | 4 comments | 07 Feb 19 15:28 UTC | HN request time: 0.001s | source
1. rsp1984 ◴[07 Feb 19 17:53 UTC] No.19106893[source]▶
Hello Sahil, thanks so much for sharing this. I know it helps a lot of founders out there.

One question: You mentioned that you raised ~$8m from investors, but that your liq. preferences used to be $16.5m. Was there a 2x preference in the Series A term sheet?

replies(1): >>19106986 #
2. sahillavingia ◴[07 Feb 19 18:04 UTC] No.19106986[source]▶
$1.1M @ 1X

$7M @ 1X

$2.25M (the bridge I mention) @ 4X

replies(1): >>19107581 #
3. rsp1984 ◴[07 Feb 19 19:13 UTC] No.19107581[source]▶
I don't see the bridge mentioned. But thanks a lot for clearing that up. There's so little data out there on companies' term sheets so it's always good to get a dose of real world.
replies(1): >>19107729 #
4. sahillavingia ◴[07 Feb 19 19:28 UTC] No.19107729{3}[source]▶
Oops, I think I nixed that to use in a future article purely on raising money. My bad!