409A Valuation: The Tax Number Behind Every Startup Stock Option
A 409A valuation is the IRS-required fair market value of your startup's common stock. Here's how it's computed, when to refresh, and why it matters for every option grant.
deal-terms - VC Tracker Resources
Discover comprehensive resources and guides related to deal-terms. Our comprehensive guides cover VC analysis preparation, investment resources, and practical advice for investors and analysts.
Whether you're an investor preparing for market analysis, a portfolio manager helping with investment tracking, or an analyst looking for resources, you'll find valuable insights in the articles below.
Related Articles (13 articles)
Anti-Dilution Protection: Weighted Average vs Full Ratchet, Explained
Anti-dilution protection adjusts an investor's conversion price if the company raises at a lower valuation. Here's the math behind broad-based, narrow-based, and full ratchet.
Liquidation Preference, Explained: 1x, 2x, Participating vs Non-Participating
Liquidation preference is the single most important term on a VC term sheet. Here's how 1x non-participating, participating, and multi-preferences change exit payouts.
Pre-Money vs Post-Money Valuation: The Math Every Founder Must Understand
Pre-money + investment = post-money. It sounds simple, but option pool shuffle, fully diluted share counts, and SAFEs can destroy 5–10% of founder ownership in minutes.
Pro-Rata Rights in VC: Follow-On Investing, Explained
Pro-rata rights let investors maintain ownership by participating in future rounds. Here's how pro-rata mechanics, super pro-rata, and fund reserves actually work.
Board Seats and VC Governance: How Startup Boards Actually Work
The board controls major company decisions. Here's how board composition, protective provisions, observers, and fiduciary duties work in VC-backed companies.