The CEO of a music startup is trying to determine the amount of capital they would have to raise in the first five years of the company in order to be successful. The CEO has outlined the following strategy for the company.

Year 1: Hire key employees, develop platform, protect intellectual property

Year 2: Product launch, gather feedback, and first marketing push

Year 3: Brand consolidation and platform upgrades

Year 4: National expansion

Year 5: Launch in foreign territories

Based on the strategy above, the CFO of the company made some projections and came up with the following summary of their expected revenue and expenses for each quarter of the next five years.

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