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News Cellar -
VC, Angel and your account
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7 Things No One Ever Tells You About Raising Venture Capital Financing
by Ben Yoskovitz
There are numerous great resources out there to help you raise venture capital or angel financing. Hopefully I’ve helped in some small way with my thoughts on pitching VCs and reviewing financing options.
But there are some parts of the process that few people talk about. And they’re important; especially for startups raising money for the first time.
- Signing a term sheet is only step one. Of course there are many steps involved in getting a term sheet. You’ll submit an elevator pitch
(followed by a bunch of other things), have numerous meetings,
negotiate, etc. — all before you get the beloved term sheet. Getting a
term sheet is a significant milestone
but if you think the process is smooth sailing after that, think again.
Post-signing of the term sheet is when the real work begins!
- It might not be worth negotiating the finer points of the deal at the term sheet stage.
The fact is, everything can be changed once a term sheet is signed, so
negotiating on the finer points of it may be overkill. You may push
hard to have very specific language in the term sheet only to realize
when you get to the real agreement that it will be re-worded anyway. This doesn’t
mean you shouldn’t negotiate for what you want and believe in, but
recognize what the term sheet is: a letter of intent to invest, not a
binding or absolute contract.
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News Cellar -
Biz Models
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At Cannes: Madison Avenue wants you! CANNES, France — Kristin Dehnert took several weeks off last fall from her work scouting locations for commercials to create four videos for Doritos' make-your-own-ad contest. Why she put her day job on hold: The winning videos would air during the Super Bowl, advertising's big event. It is, says Dehnert, "the Mack Daddy of all stages." The payoff: Her quirky "Checkout Girl" beat more than 1,000 entries to be one of two shown in the Feb. 4 broadcast. "It's a Cinderella story," says Dehnert, 38. |
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News Cellar -
Startup / Entrepreneurship
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Start-up tests odds on lotto tickets
"Neal
Cassady" from California is training a chicken to scratch lottery
tickets while "Dave The Intern" has images of fire and other special
effects on his show, "Scratching Extraordinaire."
These are just
two people who have posted videos of themselves scratching instant-win
lottery tickets, and the best part about it is that they don't even
have to spend any of their own money to buy the tickets.
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