On 10/05/2011 04:38 PM, david blanchard wrote:
Hi Felix,That's great news. I really want to thank you for this commitment of yours.Some answers below.Before that, to answer your second mail, let me give you a couple of elements about Farsides :- Playing Card Stories is an excellent idea :) We could do a few games together - why don't you join us on the chat whenever you want and then we'll go play on http://cardstories.org - To learn more about our plans, you could read the pitch <http://git.farsides.com/?a=blob&p=share&h=43eb9877f7148ab08bb66b357a2990c35b0db9e4&n=pitch_oct_1.pdf> (short to read) or our business plan <http://git.farsides.com/?a=blob&p=share&h=192532dee050fc9e92aab1b8b8b6df02a1b4367f&n=businessplan_sept_28.pdf> (more information, longer to read)On 10/04/2011 07:20 PM, Felix Rabe wrote:10kEUR would be great in order to complete our Beta and start some small marketing actions :) I feel it is going to take some more time than the week-end to setup though (see below), but agreed the sooner the better :)I'd like to invest 10K Euros right now, i.e. get the money into your hands within the next two weeks. If nothing of the following looks too fishy to me, you should have it by Monday. If there is fish, I'll get in touch with you to sort it out. :)Please provide me with the necessary information, like: - your bank details,This I will provide you of course.- what kind of legal status your company has (something that has a Wikipedia page like e.g. http://en.wikipedia.org/wiki/Limited_company - English, German, and French is fine),It's an SAS <http://fr.wikipedia.org/wiki/Soci%C3%A9t%C3%A9_par_actions_simplifi%C3%A9e> (i can provide you with the articles of association if needed)- what kind of share I will get,- maybe some key financial data, like how much capital you already have, and how much you are still looking for,ok let me give you an overview of funding and shares. At the very beginning I lent 30kEUR to start the studioThen we did a first round of 50kEUR 6 months ago, with a pre-money valuation of 500kEUR. We intend to do a second round soon, raising 200kEUR with pre-money of 800kEUR (therefore providing 20% of the shares to the newcomers).Normally, all investments coming now should be part of the second round, ie based on the 800k. But because you help us right now, ie earlier, when it's really useful, and all the team at Farsides really appreciates it, I don't think it would be fair to ask you to go with the same valuation as the coming investors. I would rather offer to go for 600kEUR pre-money if that suits you (ie somehow above the 500k to take into account the 6 months and improvements since the first round, it's a message we'd like to send to our first investors).The tricky part is that with this model (as opposed to the model where you're part of the second round), we would be launching a dedicated round of funding for you right now, which in France is kind of complicated and lengthy process (at least a month to receive the money). I've asked our lawyer if there are ways to make this easier for you and us, I might need a few days to get back to you on that with a solution.- maybe also an idea whether you intend your team to grow, or whatever your most important "next step" is at the moment,Right now, our top priority is to polish Card Stories and launch a great Beta :) I'll be happy to elaborate regarding mid-term of course. Maybe the best would be that you have a look at the business plan where you'll find some elements about these priorities, and if you have questions I'll be glad to answer them.- and maybe (because I'm curious, but optional to answer), how you are networking professionally, i.e. in person - are there groups you participate in, like startup groups? Do you have mentoring?We're members of some organizations in France, such as SNJV <http://www.snjv.org/> or Cap Digital <http://www.capdigital.com/>, that help us networking (in particular with administrations responsible for subsidies), but we don't have mentoring - though that would be a good move !After this, we can arrange a meeting in Paris, maybe in November. If there is still a need then (and I still have the money :) ) and things are looking positive, I might invest some more, between 5K and 10K Euros.Meeting in Paris would be a great next step !I think you guys are doing a good job, and I'm looking forward to make this happen.Thanks for your support :)
-- Xavier.
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