Member-only story
“Whatever you do, don’t react,” Gill, one of our investors, told me. Gill, (we’ll call him the good investor) was driving to our office, and he was going to be a little late to the board meeting.
Our other investor, “Raul”, (we’ll call him the bad investor) had asked to have the “closed session” of the board meeting first. We usually had the open session with the VP’s presenting at the start. Then we would have the closed session second with just the board of directors.
Today was different. I had presented an update about the company earlier in the week to Raul’s partners. The company was doing well. Revenue was growing and we were adding customers at a high rate.
To say the meeting didn’t go well would be an understatement. In fact, it felt like Raul and I were ambushed by an angry mob during the meeting.
So, I knew something bad was coming, but I didn’t know what it was. I just knew, whatever it was, I wasn’t going to like it.
The board meeting began, and Raul started speaking. His partners suddenly had many misgivings about my company.
In an instant, the funding that Raul’s firm had promised was gone. We now were going to have to live off of bridge loans and find other sources of funding.
