Keep fundraising competition active until signing final investor terms
Luca Ferrari · Luca Ferrari: Scaling to 500M Downloads, $360M in Reported 2023 Sales and a $2.55BN Valuation |E1127 · 20VC with Harry Stebbings · Mar 15, 2024 · at 53:16
Luca Ferrari, co-founder and CEO of Bending Spoons, shares fundraising strategy advice for startup founders based on his experience raising capital for the company.
0:00 / 0:19exact quote · 19.9s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“Big mistake is to just base your selection on the early feedback. And then wave goodbye to all those who don't plan to take on board and proceed only with the one or two that you plan to take on board. You shouldn't do that. Just keep a broader spectrum of parties involved up to the very end when you're signing, if you can.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Luca Ferrari
Ferrari predicts AI will eliminate far more jobs than it creates
“But I will say, maybe, no, I don't, it doesn't qualify as advice, but the opinion I hear most often that I think is really poorly informed and poorly thought out is that Artificial intelligence will create more jobs than it will eliminate. I believe, and again…”
Bending Spoons hires almost entirely for talent and motivation, disregarding experience
“In our case, we chose to focus on talent and motivation almost entirely disregarding experience.”
Bending Spoons pays identical salaries regardless of an employee's geographic location
“Currently we have the same salaries regardless of where you are.”
No shareholders in Bending Spoons have liquidation preferences
“All our share owners, myself, our institutional investors, our colleagues who got equity through their working at the company, nobody has any liquidation preferences, so we're all on equal terms economically.”