Gumroad raised $5M as a SAFE without ever needing to convert to shares (twitter.com) 8 points by s_tim 3y ago ↗ HN
[–] sn0w_crash 3y ago ↗ Never seen that before. Apparently it’s not all of the SAFEs but some(?) of the crowdfunded ones. Not illegal but definitely not acting in good faith.This might cause them such a legal headache that VCs may think twice about investing in future rounds.Might be in their interest to just update the language and convert the shares at the next round.
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[ 4.7 ms ] story [ 17.7 ms ] threadThis might cause them such a legal headache that VCs may think twice about investing in future rounds.
Might be in their interest to just update the language and convert the shares at the next round.