[FoRK] Company where I work got funded! Economy not disastrous everywhere!

Ian Andrew Bell hello at ianbell.com
Mon Feb 16 15:57:55 PST 2009


On 16-Feb-09, at 3:21 PM, Adam L Beberg wrote:

> Lorin Rivers wrote on 2/16/2009 7:03 AM:
>> OneSpot Completes $4.2 Million Series A Funding
>> <http://www.onespot.com/2009/02/onespot-completes-42-million-series-a-funding/ 
>> >
>
> Talk to us when you're profitable ;)
>
> Why does everyone always forget that needing funding and having to  
> give up part (and eventually all) of your company is a bad thing?

Perspectives on this scenario are different for founders and their  
employees.  Employees view this as security and stability.  Founders  
view it as a compromise.  But when your vision is so broad that it  
needs somebody else's money to realize it fully, it 's clearly one  
worth making.

The shit hits the fan when founders have to start dealing with things  
like preferences and claw-backs.  These suck a lot.  And probably  
happened to the OneSpot founders...

Far too many founders view a financing as an end in and of itself,  
rather than the beginning of their real hard work.  This is why I'm  
always skittish about founders pulling money out during financing  
rounds (such as Zuckerberg) but I can't say I would say no if it were  
offered to me..

-Ian.




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