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Lapicart

Buy Premium Refurbis... • 4m

At Lapicart - we were on the verge of raising funds - 2 angels were ready and we got the draft of the term sheet - but we backed out! Yes it's unusual but here's the reason why- 1. The equity demand was too high - above 20% and this is our first seed round. 2. Then angels had never worked in any startup, just had invested in 5 to 6 startups in the last 3 yrs. 3. They were very clear that we founders will not get any salary till we raise our next round - not a single penny. 4. We three cofounders were not happy and excited for the deal internally - heart said no! We humbly thanked and denied. The amount we were raising was approx 3cr. But still we understood that this will not make us but might break us and the startup. So, we closed the discussion. Was it a good decision? Did we refuse something that might have changed our lives? Did we overthinked? God knows but even for founders - No means No!! What do you guys say?? #startups #founders #angels #investors #funding #business

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