Ask HN: New founder in need of advice

Re:Ask HN: New founder in need of advice by gus_massa on Monday August 19, 2013 @03:55PM (#6239363)

Just for reference, YC invest ~$20K for ~%7 equity. So 30+35/35 doesn't seems to be so bad

> 3. We decide who to fund after each day of interviews. Yes decisions will include the amount we'll invest and the percent of the company we'd want for it. We usually invest $11,000 + $3000n, where n is the number of participating founders, up to 3 (i.e. 2 founders get $17,000, 3 or more get $20,000), in return for between 2% and 10% of the company. The average is 7%.

Another thing. You got no pay yet. Did he get payed during this time?

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Re:Ask HN: New founder in need of advice by newstartupguy on Monday August 19, 2013 @04:00PM (#6239394)

Neither of us have received any pay at this point.

Also, YC invests at that rate for companies without even an idea. We have a product launched in beta making several hundred dollars a day (inflates on weekends), with about 82 signed up clients most of which are going to start becoming more active (spending more money) as soon as we launch our iPhone app. We should be fully launching in the next month, at which point we expect to start raking in way more money.

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Re:Ask HN: New founder in need of advice by cheeyoonlee on Monday August 19, 2013 @04:06PM (#6239431)

At that rate, you shouldn't even bother with an incubator or accelerator. If profit is looking good, no need to raise funds unless you guys are looking to expand your team.

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