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.