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  • Introduction To Equity Fingerprint

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    PhilipBaddeley
    119 visualizzazioni22 pagine
    Introduction to equity distribution and sharing as you start and build a business

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    Introduction to Equity Fingerprint

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    Introduction to equity distribution and sharing as you start and build a business

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato PPT, PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    119 visualizzazioni22 pagine

    Introduction To Equity Fingerprint

    Caricato da

    PhilipBaddeley
    Introduction to equity distribution and sharing as you start and build a business

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato PPT, PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    di 22

    27 September 2006

    Equity dilution:
    • Single owner Major change

    100% < 100%

    Copyright Equity Fingerprint, 2006


    Equity dilution:
    • Two owners Major change

    A B

    50% each < 50% each


    A+x>B
    B+x>A
    Even if x is small.
    Copyright Equity Fingerprint, 2006
    Equity dilution:
    • Four owners Change in relationship?

    A B A B

    C D C D

    25% each < 25% each


    NOT a major change!

    Copyright Equity Fingerprint, 2006


    Equity dilution:
    • Multiple owners
    x

    Who controls the company?

    Copyright Equity Fingerprint, 2006


    Cash curves and the
    entrepreneurs dilemma
    CASH
    Target

    TEAM TIME

    How to fund?

    Copyright Equity Fingerprint, 2006


    Cash curves and the
    entrepreneurs dilemma
    CASH Microsoft
    Target

    TEAM TIME

    Copyright Equity Fingerprint, 2006


    Cash curves and the
    entrepreneurs dilemma
    CASH Microsoft
    Target

    TEAM TIME

    Bust

    Copyright Equity Fingerprint, 2006


    Cash curves and the
    entrepreneurs dilemma
    CASH
    Target

    TEAM TIME

    F
    Angel

    VC 1

    VC 2

    F
    F

    Milestones with customers


    Copyright Equity Fingerprint, 2006
    Cash curves and the
    entrepreneurs dilemma
    CASH

    CASH FLOW

    TEAM TIME

    F
    Angel

    VC 1

    VC 2

    F
    F

    Milestones with customers


    Copyright Equity Fingerprint, 2006
    Cash curves and the
    entrepreneurs dilemma
    CASH
    Target

    CASH FLOW

    TEAM TIME

    F
    Angel

    VC 1

    VC 2

    F
    F

    Milestones with customers


    Copyright Equity Fingerprint, 2006
    Cash curves and the
    entrepreneurs dilemma
    CASH

    CASH FLOW

    TEAM TIME
    Runway
    F
    Angel

    VC 1

    VC 2

    F
    F

    Milestones with customers


    Copyright Equity Fingerprint, 2006
    Cash curves and the
    entrepreneurs dilemma
    CASH

    CASH FLOW

    TEAM TIME
    Runway

    F Increase runway
    Angel

    VC 1

    F VC 2 by decreasing
    F “cash burn”

    Milestones with customers


    Copyright Equity Fingerprint, 2006
    Cash curves and the
    entrepreneurs dilemma
    CASH
    Success
    CASH FLOW

    TEAM TIME

    F
    Angel

    VC 1

    F VC 2
    F

    Milestones with customers


    Copyright Equity Fingerprint, 2006
    Cash curves and the
    entrepreneurs dilemma
    CASH

    CASH FLOW
    Misery

    TEAM TIME

    F
    Angel

    VC 1

    F VC 2
    F

    Milestones with customers


    Copyright Equity Fingerprint, 2006
    Equity Dilution – the target

    CASH
    Target

    TEAM TIME

    Copyright Equity Fingerprint, 2006


    Equity Dilution – the target

    CASH

    CASH FLOW

    TEAM TIME
    Runway

    F
    Angel

    VC 1

    F VC 2
    F

    Milestones with customers


    Copyright Equity Fingerprint, 2006
    Equity Dilution – the target

    CASH

    CASH FLOW

    TEAM TIME

    VC 1 VC 2
    VC 1
    Angel

    VC 1

    F
    F
    F

    Milestones with customers


    Copyright Equity Fingerprint, 2006
    Equity Dilution

    TIME

    Growth Pre-money
    +
    Investment
    =
    VC Post-money
    investment

    Dilution

    Copyright Equity Fingerprint, 2006


    Equity Dilution – the target
    F

    Angel

    VC 1

    VC 2
    F
    TEAM F TIME

    Voila – la fingerprint!!!!!!!!!

    VC 1
    VC 1

    Dilution
    VC 2
    VC 1
    Copyright Equity Fingerprint, 2006
    Team
    IDEA Lifestyle
    IDEA

    IDEA Cash Customers Profits Sale?


    Entrepreneur Business
    Plan
    IDEA
    Lots of Cash
    Needed?

    Cluster Remodel

    Funding

    Funding
    •Customers
    •Grants
    In stages? •Banks
    •Family & Friends Customers Profits Sale
    •Angels
    •CEO Options
    •VCs

    Copyright Equity Fingerprint, 2006 Fast growth


    E

    Copyright Equity Fingerprint, 2006

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