50. VC A
VC Option Pool 100
4%
12%
4%
20%
30.0%
30.0%
B
A
Option Pool
1150 +100 = 1250
A 375 30.0%
B 375 30.0%
50 4.0%
Option Pool 250 20.0%
50 4.0%
150 12.0%
1250 100%
51. VC A Pre-money valuation 10
5
33.3%
2.7%
8.0%
2.7%13.3%
20.0%
20.0%
B
A
Option Pool
1250 +625 = 1875
A 375 20.0%
%
3.0
B 375 20.0% 3.0
50 2.7% 0.4
Option Pool 250 (*) 13.3% 2.0
50 2.7% 0.4
150 8.0%
%
1.2
VC A 625 33.3% 5
1825 100% 15
10 ÷1250 = 80 /
5 ÷ 80 = 625
Post-money valuation = 15
A VC
(*)
52. B C
1600 A
A 375 60
B 375 60
(*) 50 8
50 8 300 267
150 24 3 80
VC A 625 100 5 20
99. Apple DEC
Facebook SNS SNS
Amazon PC
Yahoo!
Microsoft
VC Google Exite Top Tier VC
Khosla 100 75
e-Commerce PayPal
2006 140 2008 AirBnB
2009 UBER
100. The good ideas are the ones that look like bad ideas.
Unfortunately, the bad ideas also look like bad ideas.
– Paul Buccheit, Partner, Y Combinator
from the lecture at Stanford University
(*) The above is the answer to a question from an audience. I’m not sure whether this was his original words
or he just quoted from others.