Mohd Badar Told How To Run Safely Amid Coronavirus Concerns And How To Deal When Your Race Gets Postponed – Inventiva

Mohd Badar Told How To Run Safely Amid Coronavirus Concerns And How To Deal When Your Race Gets Postponed  Inventiva
“startups when:1d” – Google News

VC let term sheet expire then came back wanting to do tranches. Told them to get lost now I’m sad.

I’ve been working on a startup for a few years. We are about to release a polished version. Have had about 200 paid users on the mvp which we shut in the fall. Jan we signed a term sheet with a local VC for $ 1m. Due to covid things got delayed and they let it expire. They came back and said we will give you $ 250k now and $ 750k later based on milestones and charge you convertible interest. I said no and they walked away.

I feel like I made a mistake. Every advisor is telling me I should’ve taken the money. I’ve recruited two A+ tech guys as CTO and TBA and they both said do not take this deal. Maybe I let them influence me too much. Thoughts? This is more of a rant. Haven’t had a salary in a long time.

submitted by /u/missed_the_net
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