I'm no expert either, but from what I've read by the end of multiple rounds, they could own that much. Right out of the gate a 20% or 30% is more common.
As a company comes back for more rounds of funding, the founders get diluted. The VCs often have anti-dilution provisions in there to protect against this - something to watch for.
As a company comes back for more rounds of funding, the founders get diluted. The VCs often have anti-dilution provisions in there to protect against this - something to watch for.