Dear Danny, I am a young founder currently finishing a fundraising process and have multiple term sheets at absurd valuations with no expectation of offering board seats. I am trying to find ways to distinguish between these offers, and I recently heard that some of my best friends are using VCs like ATMs, and taking millions off the table through secondary offerings. I only fly first class, but this secondary sounds premium. I was wondering if I can take millions off with my term sheet, and how many millions I should take? ~ Company Builder*

Company Builder, I congratulate you on developing your startup to the level where venture capitalists are willing to offer you obscene valuations with no hope of access to your board of directors. I understand getting to 100,000 users these days can be challenging, and I congratulate you on your tenacity to reach this special…

View original post 742 more words