convertible note

“But it needs to be converted typically within 12 months.”

“It's never been a better time to start a company. I mean, if you're like a little smart and you have kind of an idea, preferably a problem you're solving for yourself, it's never been better because the fact that angels are willing to do these convertible note…”

“No, it's a little bit more simple than that, so we're just doing a cap and no discount, no interest.”

“We're raising about 1.5 million on a note.”

“If you can price something and price it now, it gives you something to work from and gives you more stability because you never know when your next financing round is going to come. And you should always assume that you're on your own with the cash you have al…”

“About 1.15 million or so.”

“In Snapwire's world, we raised venture debt, so convertible notes. We have never done a price round.”

“1.1 million. Priced. Yeah, yeah. No, no, it was a convertible note. So we've actually done like four rounds of notes, which is something shocking to me.”

“It was a convertible note round. Two million note was what we issued.”

“I think that's also starting to the sun's setting on a little bit of those sort of open note raises”

“Which is tricky, and I would not recommend it for other folks, which is why when I raised my money for the biotech company afterwards, we only took in one investor.”

“Convertible notes are not common here.”

“So we had an interesting trigger in our convertible note where once we hit a certain revenue threshold, the ability for me to pay back went away.”

“Most of the early stage instruments, convertible notes and safes really are orientated around the idea that you will raise another round. And if you don't raise another round, They either do stuff that's, you know, not great, like accumulate interest indefinit…”

“And then we did a convertible note this year, just getting up to a bigger round. No, I was only on a discount on the next round.”

“We raised we raised the note round early on in our existence in July of 18. That was a 1.25 million”

“It was a cap and a, on a convertible note and the cap was 10.”

“In Switzerland, when you use notes, it's rather very small notes, like 20 to 25,000. So you would have to raise a lot of notes and that makes it very complicated.”

“It's super, super easy, especially when the market is hot, but even when it's not, super easy to raise on convertible note.”

“We never did a price valuation. We did convertible notes. so beyond that, I have not really pulled any money in the last four years, three years.”