Ask HN: My first startup offer
Hello Hackers, I'm on the edge of taking the plunge into the startup scene. I've received the deets of the offer, now I have to decide. I'm hoping someone can help me run the numbers and figure out if it's a fair offer... There's 3 co-founders. They're a smashing team of folks but none of which will be technical. One has a technical background (and some successful iPhone apps and such), but they're staying on the business end. Those are the only employees right now. There's no product. This is definitely the 'ground floor'. They're raising 750k on a 7M valuation doing capped convertible notes (at a 7M cap). To that end, they've been running small events and have people that have been attending them. Nothing huge but it's a slight glimmer of some market validation. They're recruiting 3 technical engineers to develop v1 of the product. Myself as a backend developer, a PM + UX developer, an
Why it failed
Hello Hackers, I'm on the edge of taking the plunge into the startup scene. I've received the deets of the offer, now I have to decide. I'm hoping someone can help me run the numbers and figure out if it's a fair offer... There's 3 co-founders. They're a smashing team of folks bu
- Kind
- startup
- Status
- Shut down
- Inventor
- startup_noob
- Ended
- 2011
- Source
- hackernews