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Lapicart
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We denied our first equity funding proposal! Yes, you heard me right. We were in talks with an early stage investor firm. Yesterday we took a final call and denied the funding proposal. Money was ready to hit our bank account in a month but still we said NO. But why - 1. The investment amount being proposed was almost 50% less than our requirement. 2. The Equity demand was almost 65% above what we can give. This was a decision we had to take because we work almost 15 to 16 hrs a day handling sales to tech to finance to logistics to after sales and everything at Lapicart . But still if our decades experience, our revenue generating with profits capacity and our customer centric focus is devalued, it's a red flag!! This might be tough especially for first time founders but its important to understand the value of your efforts and your limitations. Don't raise just for a PR stunt - raise for a purpose or leave.. Share your thoughts please. #startups #funding #equity #founders
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