Embedded Files
What
What
Learning Objectives
Learning Objectives
Upon completing this module you should be able to:
construct simple cap tables using spreadsheets to indicate percent ownership of shares (or claims of shares) by founders, friends and family, angels, and venture capital investors
forecast future funding needs and possible scenarios for equity issues for raising funding
incorporate employee option pools into cap tables to estimate dilution of ownership by founders
Instructions
Instructions
Watch the assigned videos and presentations;
Read the assigned readings;
Complete the practice quiz or other assigned practice activity
Complete the assessment;
Complete the "Mark as Complete" checklist.
Read and View
Read and View
2023/24 Armstrong Slides on Cap Tables
2023/24 Armstrong Slides on Cap Tables
These are our main slides for in-class lecture.
Take a look at a sample SAFE agreement here and a sample convertible debt agreement here.
Armstrong 10-27-20 Lecture on Cap Tables
Armstrong 10-27-20 Lecture on Cap Tables
I discuss the uses for cap tables and demonstrate how one is constructed using a google sheet (37:00). I also discuss the progression of your company's shares through investment banks into syndicates of buyers of your shares when you do an IPO.
Placeholder for 10/29/20 Lecture Recording
Placeholder for 10/29/20 Lecture Recording
Armstrong lecture on GovWorks assessment with supporting explanations.
The skills you can learn using comparables and some "expert" judgment will help you create pro forma financials for your startup or help you evaluate startup financial performance projections as an investor.
Practice - Reinforce what you've learned
Practice - Reinforce what you've learned
Assessment - Cap Tables Activity
Assessment - Cap Tables Activity
Use this form to read the questions and provide answers for our in-class assessment
Use the google spreadsheet below as a reference to answer the questions on the google form.
If you are doing this assignment out of class, use this video excerpt with commentary and the google sheet below with instructions below to answer the question in the FORM above
References
References
Adler, C. 2000. Too Much, Too Soon GovWorks had the big idea and an all-star board but still bungled it up. What's the lesson? Don't offend potential customers. CNN Money, https://money.cnn.com/magazines/fsb/fsb_archive/2000/07/01/283696/index.htm, July 1, 2000, accessed August 31, 2020.
Layne, A. 2001. Close Encounters of the Dotcom. Fast Company, https://www.fastcompany.com/64202/close-encounters-dotcom, April 30, 2001, accessed August 31, 2020.
Mayfield Fund listing on Crunchbase.com, accessed August 31, 2020.
Steiner, C. 2010. Startup.com: The Sequel. Forbes.com, https://www.forbes.com/forbes/2010/1025/entrepreneurs-jumptv-kit-digital-startup-the-sequel.html#3195067449ae, October 7, 2010. accessed August 31, 2020.
Wikipedia.org, 2020. Govworks page. https://en.wikipedia.org/wiki/GovWorks accessed August 31, 2020.
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