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21, Welcome to this website. You have a team of 2 lawyers, 3 programmers, and your CEO.
Do you have an Accountant, A Business and Marketing Plan??
Where are you?? How soon will you launch?? What guarantees and How and When do we get
our money returned?? What are estimated Income and Expenses??
Tell us more, LUCKIEST
If you could supply your # via email that would be great because there is just too much to discuss through email. You can send your info. to email@example.com
We just locked down a partnership guaranteeing 150,000 users right out of the gate as soon as we launch. The initial investment of 4 million dollars will lock up 10% of our company. So, you will have an equity position of 10% of Vidora.TV We are ready to launch within seven days of receiving the funds. The only reason we need seven days is to tie all the applications to the website where everything is live.
I'm a little confused, you say your company was valued at $12 MM yet a $4 MM investment gets only a 10% ownership stake?
Additionally, why 2 attorneys for such a small company? Seems like you would be better off with someone in sales or business development who could generate money.
How does 10% of your company equal 10% of an already up and running company? These numbers and event(s) are not balancing. Yes I see that you are nearly ready to launch...however what is preventing you from tying up the apps to the website? If you have come this far...what is the final hurdle (besides money)?
I ran the numbers and could not come up with the valuation ratio that you are offering. (saw Bridges' answer)
Why do you have 2 attorneys and no mention of a CFO/accountant and others needed to fill positions at even a start up? Could you post a link to the Tech Crunch info or provide us wtih a TC contact? I read Tech Crunch each day and have not seen anything. I am also confused by the fact that you have neglected to obtain the services of a fabulous web designer...
I know what C2B is, and C2C is consumer to consumer (customer to customer) such as EBay or Craigslist or Yahoo Auctions...yet you say that your site is for business to advertise to website users. That would be B2C/Web. What is the website? Is it an intermediary?
I hate to say this but your team may want to keep the day jobs and work the start up part time. There may be some angel funding out there...but your best bet is to get started with your own money and go from there. (This advice offered up from experience, not tryiing to be mean). You can bring everyone 'in house' after you launch and have the money to do so. Investors are not as willing as they were 10 years ago to provide a 'living' to the team while the product develops.
I did some back tracking on BOASBC and found that you wre posting several months ago for investors for Vidora TV. You probably have some good things going here....but your business model and expectations of capital and what you will do with that capital I think are unrealistic.
The bad news is...your team needs to give more maybe for stock but not for money at this stage. About a year ago we were asking for about half the amount you are....to bring everyone in house...the small funds we have received are used for programming and I have issued more stock to those two since we have had some serious 'scope creep'. Its' a start up..you starve until you make money....No one is in house...yet.
Our team has been through the fire...but we are intact...don't let lack of money you think you need stop you from the final stages of launching. You may want to consult an accountant about the 'shares' thing' which makes no sense...but I see what you are trying to do. Also, loose the valuation...all it is doing is muddying the waters. Look at what you have, get real and start making getting to market the first priority.
You may want to tie vidora tv and your app together in the application.
I would really like to know more.
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We have already been valued at 12million USD at TechCrunch in San Fran, CA without a user base. We have yet to launch live on the internet because it will be to costly to launch without funding for server space, marketing and salaries. We have a one of a kind website and advertising tool for companies to advertise to the users on our website. We are seeking 3 to 4 million for first round funding so that we can get our site out there and up and running. Please email me at firstname.lastname@example.org with interests. We have a team of 2 lawyers, 3 programmers, and our CEO.