Founder Playbook
What is a priced round? How valuation and dilution work
A priced round fixes a startup's valuation and share price on the spot. Here is how that sets what founders give up, and how it differs from a SAFE.
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Founder Playbook
What is a term sheet? How to read the terms behind a funding round
A term sheet sets valuation, investor protections and governance before the lawyers draft the final deal. Here is what it contains and what recent Carta data says about pricing.