We still need to review the bp and financials following the recent discussions on the topic where we agreed to drastically reduce the burn rate until with have a proven concept. It’s in my todo… But nonetheless we are currently looking for investors that would be interested to be part of our first round of raising. We don’t know yet how much we will raise, somewhere between 80k€ and 150k€ I assume. The idea for me is to try raise not too much (see Olivier’s advice on that) but enough to lead us to a proven concept where we can go back to see investors in better conditions. Of course raising at this very early stage, even a little, will not be an easy part.
We have a potential investor who is interested to add a few tens of k€, we will meet him with Xav on July 28th. One of the questions we will discuss is the valuation of the company. As of now, my assumption is to valuate the studio pre-money (before the investors come in the picture) at 800k€. This would mean, as an example, that if an investor was to give 200k€, his stake would be 20% of the studio (800k+200k=1M€, and 200k/1M=20%). This is more based on a benchmark of what I’ve seen around me by discussing with people who had started content based start-up, rather than on a valuation method based on the business plan, because at such an early stage I don’t see know any relevant method (please correct me if you know how to proceed on that). What do you think ? The potential investor has told me in a mail that this 800k valuation seems high according to him (and I don’t think his objective is to negociate here, but more to help us for our future discussions with other investors), so we’ll discuss this matter with him on the 28th. Thx D
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