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CHAPTER 8

Venture Deals

Tary a little; there is something else.This bond doth give thee here no jot of blood;The words expressly are “a pound of flesh.”

—WILLIAM SHAKESPEARE (1564–1616)The Merchant of Venice

By the time we started looking for venture capital, we had bootstrapped ThingMagic for nearly five years. We had cultivated the unheard-of image of a profitable high-tech startup, and we had maintained the aura of profitability even after we departed from fiscal austerity and started to hire for growth. With revenue trending up and Walmart promoting a coming RFID revolution, it was rather easy to attract significant investments on very decent ...

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