Joe's Things from Aaron (Grifin) Call
by Joe · 18 things on Twos
- ✓ Update raise - decide how much we want to give up, how much we want to raise
- ✓ Update pitch deck
- ✓ Restructure investor conversations for advice
- ✓ Talk about new hire and fundraising needs
- ✓ Email Pablo/Justsis about updated raise so they ain't surprised
- ✓ Send details to Aaron
- Pre-Convo Notes
- "I'm the wife"
- We are looking at forgoing revenue as a customer acquisition cost
- On Allen: Really good human being and really motivated, wants to raise the TB community, and we're friends. Be conscious on the equity that you give to people and there is a lot of free advice out there. Only give equity to people that give outset value to you and your company."
- "We over shot it intentionally"
- We want to raise $3M at a $12M val
- Stopped at $1.3M "to prevent dilution for other investors"
- $10M at a $55M post
- We are raising $1M at this amount and stop raising at this number
- It's a game - just know how to play it and what you are willing to sell
- Say you are willing to sell the 10-20% that VC's want you to raise
- You will be taken more seriously if you say you are raising more money