Techstars Offer w/ Optional Conv note of $100K Techstars Priced Round # 10,000,000 94.00% 638, 298 6.00% Founders Techstars Seed Convertible Notes Stock Option Pool Series A VC Total Seed Round Conv Notes # % 10,000,000 89. 13% 638, 298 5. 69% 581, 153 5. 18% Option Pool # 10,000,000 77.99% 638, 298 4.98% 581, 153 4.53% 1, 602, 822 12. 50% Series A # 10,000,000 638, 298 581, 153 1,602, 822 3, 205, 613 16,028, 216 62.39% 3. 98% 3.63% 10.00% 20.00% 100.00% 10,638, 298 100.00% 11, 219, 751 100.00% 12, 822, 573 100.00% Techstars Investment TS share price (common) 18,000 0.028 Seed Valuation Cap Seed Investment Seed Share price Seed Share price check 3,000,000 142, 500 0.215 0.245 Series A Post Money Valuation Series A Investment Series A Share Price Series A share price check 10,000,000 2,000,000 0. 624 0.621 Grey cells are data that is given, everything else is calculated Part D: Lovepop Case a. Read carefully the Lovepop case (818-015) and answer the following questions. As a Venture Capital investor, how would you evaluate Lovepop? Apply the POCD framework, by providing your perspective on the strengths and weaknesses of Lovepop through the perspective of People, Opportunity, and Context, which we discussed in the first class. b. The complete Cap Tables of Founder.org and TechStars offers are attached (Lovepop Cap Tables post.xlsx). Both offers include convertible notes. Explain the calculations of the different stages in the cap table. c. Which offer will you choose? Why? Techstars Offer w/ Optional Conv note of $100K Techstars Priced Round # 10,000,000 94.00% 638, 298 6.00% Founders Techstars Seed Convertible Notes Stock Option Pool Series A VC Total Seed Round Conv Notes # % 10,000,000 89. 13% 638, 298 5. 69% 581, 153 5. 18% Option Pool # 10,000,000 77.99% 638, 298 4.98% 581, 153 4.53% 1, 602, 822 12. 50% Series A # 10,000,000 638, 298 581, 153 1,602, 822 3, 205, 613 16,028, 216 62.39% 3. 98% 3.63% 10.00% 20.00% 100.00% 10,638, 298 100.00% 11, 219, 751 100.00% 12, 822, 573 100.00% Techstars Investment TS share price (common) 18,000 0.028 Seed Valuation Cap Seed Investment Seed Share price Seed Share price check 3,000,000 142, 500 0.215 0.245 Series A Post Money Valuation Series A Investment Series A Share Price Series A share price check 10,000,000 2,000,000 0. 624 0.621 Grey cells are data that is given, everything else is calculated Part D: Lovepop Case a. Read carefully the Lovepop case (818-015) and answer the following questions. As a Venture Capital investor, how would you evaluate Lovepop? Apply the POCD framework, by providing your perspective on the strengths and weaknesses of Lovepop through the perspective of People, Opportunity, and Context, which we discussed in the first class. b. The complete Cap Tables of Founder.org and TechStars offers are attached (Lovepop Cap Tables post.xlsx). Both offers include convertible notes. Explain the calculations of the different stages in the cap table. c. Which offer will you choose? Why
