We do have an LOI for an investment from a VC. And yes it is very exciting and I can't yet give the details, but I am nervous about accepting the deal. While I do believe there is more value then just the cash when you take money from a VC, sometimes it feels safer to sticking with Angel money while you still can.
One of the scenarios that I want to be most careful of is that I never want to be forced into selling the company before I am ready to sell and on the terms I want to sell it on. The recent hoopla with FilmLoop is exactly what I want to stay away from.
The store is still be spread and I am sure that not everything that is being said is true, but the one thing I can say is that this is not what the entrepreneur and founders wanted or what they had agreed to "in their minds" when getting an investment from a VC.
You can read more about FilmLoops troubles here.
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