I understand the series A funding is to mostly pay the employee salaries and operating costs.
How much money do the founders take? Are they allowed to take salary out of funding?
What are the limits and who imposes them?
- Microsoft Darth GThe minimum to get by in your location is acceptable. More is frowned upon. Less is favored. Investors don’t want their founders struggling to make ends meet. That’s why you raised VC. But you also shouldn’t be totally comfortable - a little discomfort is motivating.
- Evernote ji32k7au4Pretty sure its up to them. I know Shark tank they talked with Coffee Meets Bagel founders and were shocked they were paying themselves 6 figures when they weren’t profitable.