Shareholders Stock Type
Startup Formation
Founder A Common
Founder B Common
First Angel Round
Independent Angel Common
Second Angel Round
Angel Group Preferred
First VC Round
VC #1 Preferred
Pre-Money Options
Option Pool Common
Totals
Startup Formation First Angel Round
Pre-Money Valuation: N/A Pre-Money Valuation:
Investment Amount: None Investment Amount:
Post-Money Valuation: N/A Post-Money Valuation:
Shares Outstanding: None Shares Outstanding:
Price Per Share: $0.001 Price Per Share:
Fully-Diluted Shares This Total Post-
Founders' Shares
Stock % Round Round Shares
1,000,000 40.0% 1,000,000
1,000,000 40.0% 1,000,000
500,000 500,000
500,000 20.0% 500,000
2,500,000 100% 3,000,000
gel Round Second Angel Round
$1,000,000 Pre-Money Valuation: $2,000,000
$200,000 Investment Amount: $500,000
$1,200,000 Post-Money Valuation: $2,500,000
2,500,000 Shares Outstanding: 3,000,000
$0.40 Price Per Share: $0.67
Fully-Diluted Shares This Total Post- Fully-Diluted
Stock % Round Round Shares Stock %
33.3% 1,000,000 26.7%
33.3% 1,000,000 26.7%
16.7% 500,000 13.3%
750,000 750,000 20.0%
16.7% 500,000 13%
100% 3,750,000 100%
750,000
First VC Round
Pre-Money Valuation: $6,000,000
Investment Amount: $2,000,000
Post-Money Valuation: $8,000,000
Shares Outstanding: 4,500,000
Projected ROI
Price Per Share: $1.33
Total Post-
Share This Fully-Diluted
Round Exit Valuation
Round Stock %
Shares $15,000,000
1,000,000 16.7% $ 2,500,000
1,000,000 16.7% $ 2,500,000
500,000 8.3% $ 1,250,000
5
750,000 12.5% $ 1,875,000
4
1,500,000 1,500,000 25.0% $ 3,750,000
2
750,000 1,250,000 20.8% $ 3,125,000
6,000,000 100% $ 15,000,000
Projected ROI on Exit
Exit Valuation Exit Valuation
$30,000,000 $45,000,000
$ 5,000,000 $ 7,500,000
$ 5,000,000 $ 7,500,000
$ 2,500,000 $ 3,750,000
10 15
$ 3,750,000 $ 5,625,000
8 11
$ 7,500,000 $ 11,250,000
4 6
$ 6,250,000 $ 9,375,000
$ 30,000,000 $ 45,000,000