I sat in on a session “How to fund your Web 2.0 startup” with two startup money guys from the bay area. They have done some interesting deals in the past and judging from their presentation, this was just a marketing pitch for them to attract some new startups. After spending a hour and a half listening to them, I realized that they have nothing new to say, same old pitch. I did learn a couple of things, startup dollars, the sweet spot is $1mm post money, for about 25% of the company (assuming a pre money valuation of $3mm) and they require that you reserve 20% pre money options in a pool, so the dilution is about 50% to get started. They expect the money to last 6-9 months and the product will be in a stage that will attract the next round of funding.
How to Fund your Web 2.0
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Installed a new piece by @gregory_de_la_haba. Printed by EVFA, we also made all the stencils. Created for the new retailer @intheknowsamplesale