Prados: Review Wave received 3 term sheets and signed 1 before withdrawing
Matt Prados · $100m Deck Builder: Bootstrapped to $100M Valuation · Oct 12, 2022 · at 13:13
Review Wave founder Matt Prados details the conversion metrics of his fundraising outreach and why he walked away from a signed term sheet.
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“We sent it out to everybody who basically reached out ever to us to just get some feedback, see what the deal was. That was, you know, probably 40 different firms. From that we ended up in 30 different conversations. And from that we got down to like three Basic term sheets. And you know, and then we actually signed one and started letting them do diligence to see, you know, what would happen. And I ended up kind of like not liking them, kind of pulling back a bit.”
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