
Brandon Watson talks frankly about his startup and its investors - AndrewWarner
http://mixergy.com/bullied-board-lessons-funded-startup-brandon-watson-imsafer/
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AndrewWarner
Here's a quick(ish) summary:

* He was able to raise about $1 MM in 8 days because he built up good relations with investors over the years.

* He didn't get as good a deal as he could have from his investors because: as a first time entrepreneur he didn't have enough leverage + he needed to move fast + he didn't want to lose the deal.

* His board pushed him to sacrifice revenue for growth.

* Lack of revenue forced him to seek another round of funding.

* When, at the last minute, a VC dropped his deal, all the others walked away too.

* When he sold his company, his investors made a small profit, but he was "flushed out" because of the deal he made when he got his funding.

Bottom line: He protected his investors. His investors protected themselves.
No one went out of their way to protect him, the entrepreneur. Still, none of
this soured him on entrepreneurship.

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helveticaman
Well, hopefully now on his second attempt he gets better leverage on the deal.

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phony_identity
Someone must know who this first tier VC was that hosed him. Anybody here know
about this?

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BrandonWatson
One day I will post the story...one day.

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herdrick
We'll be waiting! Thanks for the great interview, Brandon.

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sutro
Nice interview, nutpuncher!

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BrandonWatson
I know someone is reading my blog posts when they use that phrase...awesome!

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sutro
Haven't read your blog, but I did read your reply to me on this site
yesterday. I'm sure your blog is a literary masterpiece if it makes liberal
use of the term "nutpunch."

