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
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Anonymous 5
Hey I am on Medial • 3d
was this life-changing money? maybe. but bad money can ruin great startups.
0 replies1 like
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good decision but it is user's responsibility now to select the deserving good ideas, rather than those spammers with a copy pasted idea as shit becoming winners
but decreasing the top 1,2,3 prize money was bad move
