Investors Cough Up $1.6 Million To Dine With Grubwithus

http://techcrunch.com/2011/05/06/grubwithus-funding/

by jkopelman • 15 years ago

68 16 15 years ago

techcrunch.com

heyrhett• 15 years ago

Great idea, great news! Tech Crunch couldn't resist using the phrase "cough up" in conjunction with a food startup, eh?

MatthewB2• 15 years ago

That is quite a list of investors. Ashton Kutcher is all over silicon valley right now. Congrats, GWU.

MatthewB2• 15 years ago

Was Yuri Milner's investment part of that blind $150k investment he gave to all companies in YC during that one season? Or is this a subsequent investment?

alain94040• 15 years ago

From today's TechCrunch article: "For the Andreessen Horowitz meal on May 18, you’ll have to bid to win"

From last week's TechCrunch article: "A lot of people have suggested he have the “commoners” bid for lunch spots with the more well-known investors and Valley personalities on the site. [...] I want to lunch with people who are interesting, not people who can pay the most money. That’s just weird."

http://techcrunch.com/2011/04/27/letslunch-launches-in-new-y...

Disclaimer: of course I have a horse in this race. But I find the differing approaches fascinating.

jdwillas• 15 years ago

Hello,

I came across an old comment of yours here regarding no vesting cliff for co founders.

I'm a young entrepreneur and I have a question about vesting ciffs and would really appreciate a response or a link to some relevant reading.

My team and I consisting of three total co-founders have just received offers from three separate incubators (NYC Seedstart, Alphalabs, and Betaspring).

All three of them require vesting/cliffs for cofounders. I'm just reading up on that now and am appalled that if my co-founders (who are best friends with each other), elevan months from now, wanted to dismiss me and replace me with a good friend of theirs or family member, they would be legally allowed to send me on my way with 0% equity for all my hard work, ideas, and connections. How is this normal practice?

The core of this business model and much of its evolution came from my ideas and although I trust my partners, I can't take the risk of losing everything at their very whim. Is there anything I can do to protect myself going into this, so that I can at least insure some amount of guaranteed equity?

Thanks for any advice you can offer.

Best,

Jason

earbitscom• 15 years ago

Wow...reads like the who's who of investors. Congrats, Grubs.

swies2• 15 years ago

Congrats! It's a great idea and well implemented. Though I started laughing and got distracted at the raffle note: "If you do win, you’ll be asked to pay the $35 set fee for the meal"

It's an article about raising $1.6 million.

The contest must cost what, $350? Is this a legal thing?

acgourley• 15 years ago

they want to make sure the people going know who NEA is and are not just going to go for free food.

swies2• 15 years ago

Ah! That makes perfect sense. Thank you.

The tone of it just came off as absurd in an article about raising so much money.

I think I like the charity auction route much more than the raffle with that in mind. The auction is simple and familiar but the raffle version needs to have this mechanic where you win and then you pay. It just feels weird, especially at first glance: "You won! Here's the bill."

gustaf• 15 years ago

Congrats guys! I'm heading to my second one @ Front Porch next week

rdl• 15 years ago

I loved the YC alumni dinners, and there are a lot of interesting possibilities for themed private dinners too.

vipivip• 15 years ago

Congrats guys, great idea,

jackowayed• 15 years ago

One issue I've seen with Grubwithus is the fairly limited menu, which is generally not particularly vegetarian-friendly. Even when it comes to the meals that have vegetarian entres (~1/2, it seems like), sometimes they're things like "Vegan Plate: fresh veggies from local farmers cooked up with love!"

I'd rather not pay $25 for a meal that has 0 protein.

rocamboleh• 15 years ago

I wish Grubwithus was in Toronto. I love the charity idea. The "suggest a price for this dinner option" for some of the lunches with the top ten prices attending is simply brilliant.

BrainScraps• 15 years ago

Everybody remember this thread from a couple of weeks ago about their "naughty" antics and the good that came of them ?

http://news.ycombinator.com/item?id=2479757

vannevar• 15 years ago

Great idea. Looking forward to the inevitable name change to something more...palatable.

Investors Cough Up $1.6 Million To Dine With Grubwithus

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