On: Tell HN: Ever think of applying to YC? Do it this weekend for S24

[mandeepj]

> The standard offer 500k for 7%

They will not give you all of that in one go. $125k initially and rest of $375k if you are valued at-least at $15M post money round.

[haneul → mandeepj]

Unless it changed very recently, which from my reading it didn’t, that’s not correct.

The $375k is an uncapped safe with mfn, but you do get the whole $500k upfront.

Source: https://www.ycombinator.com/deal

Also sourced from getting said $500k, thus the confusion on my end.

[mandeepj → haneul]

> In a typical scenario where you raise your next safes at a $15M post-money valuation cap, the $375,000 MFN safe would convert into $375,000 / $15,000,000 = 2.5% of the company.

Maybe, I misunderstood then! I thought they were referring to next funding round to hand over rest of $375k. But in fact, it was just the calculation to explain the valuation of the company in ref to that balance.