Elon Tusk has a great new venture that requires $3 million for its expansion. Benchmark Capital agrees to provide the required funding. Benchmark insists on providing the required capital in stages, conditional upon Elon's business meeting pre-set milestones. In the first round of financing Benchmark agrees to provide $.1 million at a pre-money valuation of $6.5 million. How much percentage ownership does Benchmark get of Elon's business? Please answer to two decimal places (10 percent should be entered as 10.00 ): After 2 years Elon's venture has met all of its milestones and prior to any new financing, its valuation is now twice as large as its post-money valuation in the previous financing round. While Elon's company is now ready to receive the remaining $2 million, Benchmark has run out of capital. Therefore a new venture capital fund, Sequoia Capital provides the remaining $2 million of financing. How much percentage ownership does Sequoia get of Elon's business? Please answer to two decimal places Because capital infusions were staged, Elon Tusk ended up with more of the firm's ownership after the second financing round. How much more ownership of the firm does Elon get to keep under staging, compared to the scenario where he raises the entire $3 million from Benchmark in the first financing round