VentureBeat - Latest Comments in Foodspotting lets you find the foods you love — not just the restaurants

Re: Foodspotting lets you find the foods you love — not just the restaurants

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Re: Foodspotting lets you find the foods you love — not just the restaurants

blacklava — Thu, 03 Sep 2009 22:01:56 -0000

They didn't give away the entire company. Just part of it. How much? That's unknown. Also, they won free office space at sfCube - sfcube.com - an incubator in San Francisco.

Re: Foodspotting lets you find the foods you love — not just the restaurants

Avichal Garg — Thu, 03 Sep 2009 16:22:30 -0000

The terms could be favorable...it could be some sort of convertible debt for example. Seed funding just implies that it's funding to get the product built, not necessarily that there was equity that changed hands. That $5000 could be used for things like hosting costs or get a designer without much up front risk if it's convertible debt.

Re: Foodspotting lets you find the foods you love — not just the restaurants

rinogo — Thu, 03 Sep 2009 11:56:34 -0000

Maybe I'm missing something, but why in the world would any self-respecting entrepreneur give up ownership in her company for a mere $5,000? (Especially given that the article mentions that she is "a developer working on her own time", i.e. does not need to pay a developer but can do the work herself...) ?