I'm not sure how typical the angel quote is, most angels would be happy as long as the founders were happy with a buy-out.
An exit of 15 million which yields $500K to the investor after putting up $100K means that the angel only holds about 3% of the company anyway.
Also, as a rule you don't blog or write about your verbal agreement, you wait until the agreement is in writing and the money is in the bank and you've agreed with your investors that you can go public with the news.
Some people will back out of a deal if you go public like this, even if they're not mentioned by name.
A deal isn't done until the money is in the bank.
And essentially he write that he told the guy just what he thought he wanted to hear, and now blogs that he is baffled by this and and that he didn't tell him the truth.
Let's hope that said 'angel' doesn't read that blog.
An exit of 15 million which yields $500K to the investor after putting up $100K means that the angel only holds about 3% of the company anyway.
Also, as a rule you don't blog or write about your verbal agreement, you wait until the agreement is in writing and the money is in the bank and you've agreed with your investors that you can go public with the news.
Some people will back out of a deal if you go public like this, even if they're not mentioned by name.
A deal isn't done until the money is in the bank.
And essentially he write that he told the guy just what he thought he wanted to hear, and now blogs that he is baffled by this and and that he didn't tell him the truth.
Let's hope that said 'angel' doesn't read that blog.