Board Meeting / Sep 8th 2023

Board Meeting / Sep 8th 2023

Fund Raising


2 min read

Jevon and Nate discussed the valuation of their company and potential investment strategies. Jevon believed the company was worth $100 million, while Nate cited the average valuation for startups in 2022 as $11 million. They discussed the possibility of accepting a $500,000 investment at an $11 million valuation and raising $5 million at a $110 million valuation in the future.

Nate advised Jevon to take the $500,000 investment and not turn it down, as they can always raise money at higher valuations later. They also discussed the importance of attracting investors who want a big chunk of the company.

Jevon and Nate also discussed the potential market share and audience for the platform, with Jevon proposing that they can get a million subscribers within three years. They discussed the need to convince investors of the company's potential and proposed a share plan or options plan for early employees. They also discussed the importance of attracting and retaining top talent through competitive compensation and equity offers.

Nate provided an update on the TV app development and mentioned that they will need to pay around $25,000 per year for it. He also talked about the web app development and the various features that will be included, such as personalized playlist, direct messaging, and ticket sales. Nate suggested that they should not offer in-app purchases on Apple TV to avoid giving Apple a 30% cut of their profits. They also discussed the need for funding and how to prioritize their investments in the app and TV aspects of their business.

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