Ask HN: How much is too much?
I'm a cofounder in a small Canadian-based startup. We think we're on to something big, but we're pretty much out of cash and need a couple more months to get to revenue. As luck would have it, we have been approached by an angel investor who's willing to give us the injection we need, but at no small cost. Since this is an anonymous disclosure, I'll just open up and give some numbers. The investor is successfully running his own large company and has no burning need to see a monetary return on his investment. He's openly stated that he is more interested in vicariously living the startup life through us, and is also excited about exploring a new space from the same level as the founders. He runs a large company and pines for the days of a young, scrappy, agile startup. To that end, he has asked for an equal stake in the company and a directorship. The valuation on the table is quite low
Why it failed
I'm a cofounder in a small Canadian-based startup. We think we're on to something big, but we're pretty much out of cash and need a couple more months to get to revenue. As luck would have it, we have been approached by an angel investor who's willing to give us the injection we
- Kind
- startup
- Status
- Shut down
- Inventor
- seaking
- Ended
- 2010
- Source
- hackernews