Startups Wednesday Social Club - Share What Events You Are Attending This Coming Week |
- Wednesday Social Club - Share What Events You Are Attending This Coming Week
- What are the pros and cons of different methods of incorporation?
- How does a company like Square manage 2M business relationships?
- Private Equity firms want to take our Canadian startup public. Can anyone help me with the pros and cons?
- Need clarity on a revamped term in a term sheet from a VC
- Thoughts on incubators?
- As a CEO how to build a team that can meet the greatest challenges at your startup?
- Partner selling equity or taking loan for investment shortfall; need advice.
- yet another incorporation question
- Had our first investor meeting. Traction issues?
| Wednesday Social Club - Share What Events You Are Attending This Coming Week Posted: 30 Oct 2019 06:06 AM PDT Welcome to this week's Social Club thread.Share what events and meetups you are going to so we can discover new ways to be social together offline and help grow your local community. Focus on sharing events that are happening within the next 7 days of this date of this submission. Anything that falls outside of 10 days will be removed, no exceptions. No duplicate posts. If you happen to be attending an event that is already posted, leave a comment to inform the community that you will also be there. If you are hoping to organize something on your own, outside of an existing event, feel free to use this thread to rally some people together to meet up. Please use the following format to share an event: Event Name and URL: Location: Event Date: Event Time: Event Description: Event Cost: Discount Code: [if applicable] Please use the following format to organize people to meet up together: Location: Purpose of getting together: Suggested Places to meet up: You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| What are the pros and cons of different methods of incorporation? Posted: 30 Oct 2019 05:51 PM PDT Hi all! We are looking to incorporate before launch and have some questions for the community. Type of incorporation? Delaware C Corp Method of incorporation? This is where we are stuck. None of us have any sort of law background/experience in building companies from scratch. It seems like the most popular options are:
How did you incorporate? What are the pros and cons of the aforementioned options? Thank you so much. [link] [comments]  |
| How does a company like Square manage 2M business relationships? Posted: 30 Oct 2019 05:17 PM PDT I'm doing some math on my startup idea trying to figure out how many businesses I need to capture in order to generate $100M revenue but most importantly what my expenses would look like. Since my business idea is a "loose" B2B (aka selling to restaurant owners which are technically 1-2 people that own a really small business), I would obviously need to hire account/sales people to manage these business relationships. For a company like Yelp, they have about 100K restaurants on their platform PAYING for ads. They have 5.5K employees, a majority of which I assume are on the account/sales team. 100K businesses / 3K account managers = About 30 businesses per employee to manage. ***I assume Yelp's employees are also simultaneously trying to get MORE restaurants to pay for Yelp which technically opens up the total market to 600K restaurants so I guess you can say each employee is managing or doing sales for maybe 100 restaurants*** On the other hand, Square has about 2M businesses that PAY for their service(s) and only 2.5K employees (let's assume 2K are sales people), so each sales/account employee is handling about 1000 businesses. 1000 is a lot more than 30 and almost seems unfeasible. ___________________________________________________________________________________________ How does a company like Square manage their merchants compared to a company like Yelp? I imagine Square has a more streamlined self-service portal for businesses to manage their own account. Alternatively, I imagine Yelp is just old-fashioned and their sales team waste a lot of time calling and bugging restaurants. How would you "manage" 1M relationships for a B2B company? [link] [comments]  |
| Posted: 30 Oct 2019 10:20 AM PDT We're a 2 year old, early revenue fintech startup with a solid adoption rate. We recently started generating SaaS revenue at 8k / month and have agreements in place to get to 2m ARR in 2020 with current usage (no growth). I'm not familiar with the IPO process, but what should we be wary of as we explore this opportunity? Thanks in advance for the comments. Edit: we have usage and transactions right now that we will create revenue in 2020. This revenue will be in addition to SaaS revenue. We launched in February. [link] [comments]  |
| Need clarity on a revamped term in a term sheet from a VC Posted: 30 Oct 2019 08:09 PM PDT We were negotiating the value cap on a convertible note with a VC. We negotiated $1M higher on the cap. The original language said as follows: "A fully diluted valuation cap of $X" In the new language, they updated it to read as follows: "A fully diluted valuation cap of $X (including all outstanding debt). For greater clarity, the valuation cap refers to the enterprise value of the Company, including all debt, equity, and conversion of convertible instruments (debentures, warrants, options, etc) (i.e. all outstanding convertible instruments convert in the "Pre-Money")." We have about $750,000 in dilutive convertible notes/SAFEs we've taken previously. Is this additional language basically saying the effective valuation is 3.25M (assuming new figure is 4M) because those notes convert before this value cap? [link] [comments]  |
| Posted: 30 Oct 2019 03:31 PM PDT I am looking at taking my idea to a incubator because in essence I need lawyers and connections. My product is a tech platform and I have a few questions. 1# how can I protect my idea? I would hate to take this idea to someone and they offer nothing but find developers to run with my idea. 2# what should I be looking for and what have you guys experienced (if any) with this kind of stuff [link] [comments]  |
| As a CEO how to build a team that can meet the greatest challenges at your startup? Posted: 31 Oct 2019 12:36 AM PDT As a CEO how to build a team that can meet the greatest challenges at your startup? You know only a talented team can generate you the real results for the long term. What are good ways to build and manage a high performing team? How to create will and skill in your team? [link] [comments]  |
| Partner selling equity or taking loan for investment shortfall; need advice. Posted: 30 Oct 2019 05:15 PM PDT The question/situation is this: The partner has suggested/explored the idea of taking a loan (from an outside individual/non-banking 3rd party) and using that to cover the cash shortfall and then ultimately turning over a percentage of their equity to whomever provided the loan. OR Obviously, this third-party will have had nothing to do with the company up to this point. Additionally, going forward they may be of little to no importance to business operations or development other than the money that they're bringing in. All this to ask, how should this be handled, should this be allowed, what problems might we run into? [link] [comments]  |
| yet another incorporation question Posted: 30 Oct 2019 08:35 AM PDT So my sister (who lives in Alberta) and I (who lives in Ontario) are looking to form a company making vet practice management software for mobile vets. We're going to be limiting ourselves to Canada and the US. Do we form a company in Delaware (we're both US citizens) or do we form in one of our provinces (probably Alberta since she owns a house where I rent and might still be moving around). [link] [comments]  |
| Had our first investor meeting. Traction issues? Posted: 30 Oct 2019 10:44 AM PDT We just wanted to share our first investor meeting. It went good and bad. It went good because they liked the idea and the product but had to decline because we had no traction. While we understand their POV, we're glad we received great feedback. What's really defined as traction? Is it DAU, total users, revenue? Oh well Learn and move on! Only 99 more no's to go😤 [link] [comments]  |
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