Good background information from Fred Wilson on “The Ideal First Round Term Sheet”, he refers to a post by Chris Dixon (cofounder of Hunch), who I candidly asked (on Chris’ blog) if he’d consider a board member position for a would be venture. Fred’s post: http://www.avc.com/a_vc/2009/08/the-ideal-first-round-term-sheet.html
Of note, Fred Wilson mentioned Delicious had 100k users per month and wasn’t officially formed into a business structure when Union Squares invested in them. I think getting a functional tool & site, and building a user base would go a long way to helping us build investor confidence.
Vlad 6:18 pm on August 17, 2009 Permalink
I liked this post a lot. Simplicity is key early on.
Jason Cronkhite 8:39 pm on August 19, 2009 Permalink
Mark, per Fred’s comments. I’ve heard from many folks VC’s, Angels and other entrepreneurs, “focus on building the team, product, getting customers and traction”. When you have those things in place fundraising is easier.
Eau de Social Recruiting Summit 4:52 am on November 16, 2009 Permalink
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