Hello, > I fear you are playing with fire here.
Of course, and I play with fire since the beginning of Tiny. And it has been proved that I am a good firefighter. When you want to beat the biggest, you need to take small risks, and you also need to compute the risks and avoid them. Especially when you run a fast growing company without financial resources, like Tiny. Every good manager has to play with the risk and limit it. I don't consider fund raising a much more bigger risk than our previous situations. > Honestly, 3 euro for slightly under 30%? It feels to me that an EV of around > 10 euro is on the low end for what you have built. I can't explain the detailed clauses of the contract but: * It's less than 30% * The EV 'can be' much more higher than 10m⬠> Next time you need to raise equity, why not turning to the community. I thought about it. The reason of this fund raising is not because we needed cash: the Tiny company has been profitable in 2009. because we are in front of a very big opportunity and challenge and we want to do a big step forward in the product, in our business model and in our services and I think we are mature for this. That's why I looked for several million. If we needed some hundreds kâ¬, I would have proposed this to the community. But I seriously doubt that the community would achieved to find 3mâ¬. > Would you know an investor that better understands to logic of open source > and that would have more full faith in you, Fabien, as our entrusted Editor > than the community? That's why investors are not part of the executives managers. @rvalyi >1) Tiny is not only the OpenERP product, it's also a company with some >employees, > and I fear the situation here was not as good as the exceptional product they > made. > I'm not sure whether all those 80 employees that were hired during the poor > times are > a real asset or a burden... Sometimes I feel like I don't understand how you think :) Of course our employees are part of the success of OpenERP, you can't achieve such a growth while being self financed if you don't have very good guys. As explained above, you should not focus on the %age of the shares. The valuation is only a part of the contract. The contract has been efficiently negociated: we had several offers from others investors. @anajuaristi We do all agree that they are lots of works to improve our partnerships. I can insure you that we are already working on it. -------------------- m2f -------------------- -- http://www.openobject.com/forum/viewtopic.php?p=51434#51434 -------------------- m2f --------------------
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