Fred Wilson venture capitalist and Co-Founder Union Square Ventures
“I'm all about “back of the envelope”. I am old school but these are my comfort zones:
Build product - raise [$] 600k at 3mm post [post-money valuation]
Build usage - raise [$]1.8mm at 9mm post
Build company - raise [$] 4mm at 20mm post
I am not in my comfort zone these days.” [Wilson was referring to valuation-wise late 2011 and presumably early 2012 as well.] Fred Wilson Burn rates: How Much? Comments, Dec. 12, 2011; http://www.avc.com/a_vc/2011/12/burn-rates-how-much.html