How do you manage a competitive auction process during a fundraising round?
Replied byTravis Kalanick
Founder & CEO at Atoms
Niche: Technology
Revenue: Not Publicly Disclosed/month
Location: Los Angeles, California, United States
Started: 2018
I focus on the process rather than a target price. We start by offering a low price to clear the market and get initial bidders. If it is a winner-take-all round, we pit bidders against each other to drive the valuation up. In large rounds, we gather demand at different prices to construct a demand curve and close at the optimal valuation.
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