jber

434 karma · joined November 8, 2012

http://www.berrebi.org

jber··on Kima15: $150K for 15% in 15 days

Thanks Salim ;-) We don't have any interns ;-) That's why ;-)

jber··on Kima15: $150K for 15% in 15 days

Ok. Thanks a lot. We are trying to make it clearer

jber··on Kima15: $150K for 15% in 15 days

Our decisions are fast for everyone. Sometimes lawyers could need a little more time... We are not requesting reincorporation most of the time but sometimes we are advising the company to do that for many reasons

jber··on Kima15: $150K for 15% in 15 days

Thanks a lot for your feedback but here we are talking about an equity deal not convertible notes... Did you really issued new shares without a lawyer ?

jber··on Kima15: $150K for 15% in 15 days

Not at all ;-) What color do you suggest ? ;-)

jber··on Kima15: $150K for 15% in 15 days

We are investing only once in startup or via Kima15 or via many type of deals through Kima Ventures

We are never reinvesting in one of this deals.

jber··on Kima15: $150K for 15% in 15 days

What do you mean? You're talking about 2 differents things.

jber··on Kima15: $150K for 15% in 15 days

We just changed it. Better now?

jber··on Kima15: $150K for 15% in 15 days

Why?

jber··on Kima15: $150K for 15% in 15 days

Thanks for your feedback. Better now?

jber··on Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

You can't imagine how most US startups will be happy to get that deal. There are thousands of startups trying to get funding desperately in the US too There are also founders who are not interested to lose their time by pitching many VCs...and prefer to get that term in 15 days instead of better terms in 5 months...

jber··on Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

We already invested in Pakistan too ;-) so nope, it's for everyone ;-)

jber··on Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

Agree with you that for it's not for everyone but for most early stage startups, it's a great deal.

For the others, Kima Ventures still exists and we are investing at differents valuations (lower and higher)

jber··on Kima15: $150K for 15% in 15 days

Unfortunately, lawyers have to check that the company exists, request info from founders, check that the IP is owned by the company etc...So cost is 2.5K to $4K (and it's not expensive)

We HATE paying lawyers... :-( We are not investing in a company for that. So we will try to work with all good lawyers with great prices. As you said, it's not so difficult.

jber··on Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

Thanks Adam for your kind words. Still love a lot what you are doing at BinPress!

Good luck!

jber··on Kima15: $150K for 15% in 15 days

If you can find us a lawyer working for free, would love an intro ;-)

jber··on Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

Ok, so the good strategy is to give a bad deal to entrepreneurs ? ;-)

jber··on Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

We wanted to call it Kima15 so it's 15%. Good answer? ;-)

More seriously. We know the market better than many angels and we are investing in any country of the world. This offer was already been accepted by a lot of awesome founders building big things.

jber··on Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

Thanks, corrected.

jber··on Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

Hello

Nope, we are not doing it ;-) Check my Angellist profile: http://angel.co/jberrebi

We have a very good reputation in this market and are helpful! You can check!

jber··on Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

Why do you think our terms are "terrible"?

jber··on Investors

If valuation is not important, why take 5% for your $18K? Why not 0.5% ? 0.1% ? Why not approve an angel who wants to get at least 5% for $150K ?

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