Songkick (YC S07) raises $4m series A
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Songkick (YC S07) raises $4m series A
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Re: Songkick (YC S07) raises $4m series A
#2they are good citizens too - running hacker events from their office
Re: Songkick (YC S07) raises $4m series A
#3Wow - congrats guys. And great press following that knock off site covered on TC.
Re: Songkick (YC S07) raises $4m series A
#4Is there actually a technical distinction between a Series A and a seed round? (I've always assumed it was just size and order of progression.) Their last funding was already $1 million, so wouldn't this be more like a small Series B?
Re: Songkick (YC S07) raises $4m series A
#5Is there actually a technical distinction between a Series A and a seed round? (I've always assumed it was just size and order of progression.) Their last funding was already $1 million, so wouldn't this be more like a small Series B?
good question. anyone?
Re: Songkick (YC S07) raises $4m series A
#6they are good citizens too - running hacker events from their office
Agreed. The one I attended back in April was a great experience and really useful.
Congrats on the funding :D
Re: Songkick (YC S07) raises $4m series A
#7Congratulations are due for a company that helped tip me off to two rocking nights!
Re: Songkick (YC S07) raises $4m series A
#8Is there actually a technical distinction between a Series A and a seed round? (I've always assumed it was just size and order of progression.) Their last funding was already $1 million, so wouldn't this be more like a small Series B?
It's arbitrary. A lot of people call the first small equity round a Series AA. My guess is that their first round was either a convertible or a Series AA that was mislabeled as a Series A in Crunchbase. Or this one was a Series B that was mislabed a Series A.
Either way, it doesn't really mean much. And "seed round" is more of a general term. Your Series A could be your seed round. It doesn't have any specific meaning, though in their case I'd assume they would consider the YC funds the seed round.
Re: Songkick (YC S07) raises $4m series A
#9Is there actually a technical distinction between a Series A and a seed round? (I've always assumed it was just size and order of progression.) Their last funding was already $1 million, so wouldn't this be more like a small Series B?
AFAIK seed rounds are usually $1 million or less.
Venture hacks is a great source, but I unfortunately couldn't find an exact answer to your question:
Re: Songkick (YC S07) raises $4m series A
#10Is there actually a technical distinction between a Series A and a seed round? (I've always assumed it was just size and order of progression.) Their last funding was already $1 million, so wouldn't this be more like a small Series B?
It's arbitrary. A lot of people call the first small equity round a Series AA. My guess is that their first round was either a convertible or a Series AA that was mislabeled as a Series A in Crunchbase. Or this one was a Series B that was mislabed a Series A. Either way, it doesn't really mean much. And "seed round" is more of a general term. Your Series A could be your seed round. It doesn't have any specific meanin…
A series A means that you're issuing class A stock. An angel round means your issuing a note that will eventually convert to class A stock, aka a convertible note.
The threshold between an angel round and a series A is determined by your articles of incorporation. It's usually between 2 and 5 million. Before your series A you have no valuation b/c it would be a waste of money to determine it. Once you have matured and you raise enough money to go past the 2 to 5 million "convertible threshold," you get a valuation and issue class A stock to your investors and angels. Your angels convert from a convertible note to class A stock at the pre-money valuation and they get to ride the "valuation bump" the series A investors put in for free.
Ok, I reread this explanation and I hated it. This is how I actually understand it:
// globals
double classAThreashold = callLaywers( "Halp!" );
double outstandingShares = callLawyers( "Oh noes!" );
double amountInvested = 0;
void enterNewInvestment( double newInvestment )
{
if( newInvestment + amountInvested >= classAThreshold ) {
double preMoneyValuation = getValuation();
vector percentagePerInvestor;
for( int i = 0; i This is how I understand the whole process. It took my lawyers a long time to explain it all to me and I'm probably still screwing something up. Go easy on C++ :)
[updated a few bug fixes]