Learn equity like a founder,
not a lawyer.
Free structured courses that take you from “what is a share class” to modeling your exit waterfall. No signup required, read them all.
Cap Tables 101
5 lessons · 46 min total
What Is a Cap Table? Ownership, Share Counts, and Your First One
What is a cap table? What it records, authorized vs issued vs outstanding vs fully diluted, par value, and a founding cap table worked through with real numbers.
Share Classes: Common vs Preferred Stock
Common vs preferred stock, explained with numbers: liquidation preferences, anti-dilution, pro-rata rights, board seats, and who gets what in a downside sale.
How Does Vesting Work? Schedules, Cliffs, and Acceleration
How does vesting work? The standard 4-year schedule with monthly math worked out, cliffs, acceleration triggers, reverse vesting for founders, and leaver rules.
What Is an Option Pool?
What is an option pool? How the reserve works, sizing from a hiring plan, who really pays for the pre-money top-up, utilization tracking, and refreshes.
How to Read a Cap Table
How to read a cap table: walk a realistic post-seed table line by line (founders, converted SAFEs, preferred, pool) and spot the red flags investors check.
Fundraising Math
5 lessons · 53 min total
How Do SAFEs Work? SAFEs and Convertible Notes Explained
How do SAFEs work? Post-money vs pre-money SAFEs, caps, discounts, MFN, and conversion math worked through with real numbers, plus notes, ASAs, and CCDs.
Priced Round Term Sheets Explained: The Terms That Move Money
A priced round term sheet explained with real numbers: pre vs post-money, price per share, liquidation preference, anti-dilution, pool top-up, and pro-rata.
Startup Dilution Explained: The Math Behind Every Round
Startup dilution explained with real numbers: proportional scaling, the two levers of a priced round, a full SAFE-stack conversion, and cumulative seed-to-B math.
409A Valuation Explained: From Enterprise Value to Your Option Strike Price
A 409A valuation explained for operators: enterprise vs per-share value, why common trades below preferred, the 12-month clock, and UK/India equivalents.
Liquidation Waterfalls Explained: Who Gets What When You Sell
Liquidation waterfall explained with real numbers: seniority, participating vs non-participating preference, caps, escrow, and the convert decision at exit.
Equity Operations
5 lessons · 50 min total
How to Grant Stock Options the Right Way
How to grant stock options properly: board approval, strike price at FMV, grant date vs vesting start, the acceptance flow, and the errors diligence finds.
Closing a Funding Round: The Operational Checklist
A closing a funding round checklist for founders: reconcile the cap table, inventory every SAFE, agree the pool, collect consents, close atomically, and snapshot.
The Startup Due Diligence Checklist: Building a Data Room That Closes
A startup due diligence checklist from the founder side: the 12 documents investors ask for, how to organize a data room, and the failures that delay closings.
Startup Equity by Country: What Actually Changes Across Jurisdictions
Startup equity by country: entity types, SAFE vs ASA vs CLN vs CCD, 409A vs FMV Assessment vs Valuation Report, lakh/crore numbering, and what a flip changes.
Employee Equity Explained: How to Read and Understand Your Grant
Employee equity explained: how to read your grant, what vesting means month by month, exercise windows when you leave, dilution, and what to ask your company.
Move your cap table off the spreadsheet.
Shareholders to SAFEs, option grants to exit modeling. One platform, priced by the company and not the head, on web and desktop.
All modules included · No per-stakeholder pricing · Explore a seeded sample company in one click