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October 21, 2016

[Video] How much seed funding for a startup? – Bobby’s Minute, ep. 30

 

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Well, you need enough runway for your company. How much? See in the video :)

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Transcript:

How much seed funding should a startup ask for? There is a rule of thumb when you’re asking for money, especially at the seed level. The rule of thumb is you raise for 18 to 24 months of runway.

So, take a moment look at the costs of the company, add in the costs with you. Most of the startup founders don’t really think of them as employees, but you need the salary, so add in that cost as well.

Think about the things that you want to do in the next 18 to 24 months: you need to hire 2-3-4 more people and get a monthly average and multiply it by 18 or 24 because if you’re not doing that, in less than six months, even faster than that, you’re going to need to raise the next round.

So, instead of focusing for at least six months to a year on your product and on your startup, you’re going to do raising money again. So raise money for 18 to 24 months of runway.

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