http://blog.kelseygroup.com/index.php/2009/07/01/great-idea-for-iacs-new-sidewalkcom-enter-contest/ News & Views on Local Search and Media Mon, 13 Feb 2012 15:08:28 -0500 http://wordpress.org/?v=2.8.6 hourly 1 http://blog.kelseygroup.com/index.php/2009/07/01/great-idea-for-iacs-new-sidewalkcom-enter-contest/comment-page-1/#comment-366055 Perry Thu, 02 Jul 2009 17:26:32 +0000 http://blog.kelseygroup.com/index.php/2009/07/01/great-idea-for-iacs-new-sidewalkcom-enter-contest/#comment-366055 Great idea for IAC, lousy idea for an entrepreneur! I read the fine print, the winning idea gets funded with $1M and "up to" 10% equity in the venture. 90% dilution on a seed round. Umm, perhaps a win-win for a smart developer with a great idea as their training wheels, but if the idea is good enough to pass this test, it should be viable for someone to fund with less absurd terms. Again, very shrewd for IAC. Great idea for IAC, lousy idea for an entrepreneur! I read the fine print, the winning idea gets funded with $1M and “up to” 10% equity in the venture. 90% dilution on a seed round. Umm, perhaps a win-win for a smart developer with a great idea as their training wheels, but if the idea is good enough to pass this test, it should be viable for someone to fund with less absurd terms. Again, very shrewd for IAC.

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