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I'm certain that if you can build a product that generates a huge buzz and gets millions of people to sign up that you will have absolutely no trouble raising that kind of money.

So go for it!

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Ahh, but we're not talking about building the whole product and generating buzz, etc. We're talking about the stated purpose for raising $25M: "The funding will be used to implement two new features, a Facebook login and the ability to follow posts on a certain topic".

$25M.

For TWO features.

Hell, ignore my previous offer. I'd have given them a 92% discount and done that for a cool $2MM.

Pace yourself. Be a little less eager to drop your price when you bargain. Try $24.5M first, then $24M. It's still a discount compared to the competitors.

You're already asking for a price so low you might end up barely scraping $100,000 an hour.

That's not the actual purpose for the money.

The purpose of the money was to grow the company. For a business < 1 year old it's impossible to predict what they'll need, so they just fill in the blank with some random sentence that no one cares about.

Excellent business practice!

It is actually.

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