To get to Unicorn status, companies often raise multiple funding rounds: it’s impossible to grow that fast without external capital. Those rounds are often called Seed, Series A, Series B, Series C, etc.
Now, the first round startups raise, is often structured as a convertible note. The problem is convertible notes (or bridge rounds as they are often called) are designed for these startup stories, and there are many stories in the middle where convertible notes can become a hassle.
We are one of them, and in this video, we’ll tell you all about it.
Here’s the danger with convertible notes.
#startups #Slidebean #fundraising
0:00 – Intro
0:32 Failure vs. Unicorn
2:42 Rules of a convertible note
5:31 The 2017 decision
7:19 The 2020 decision
9:09 The middle ground problems