The fundraising behind Posterous

Garry Tan and Sachin Agarwal on saving money by raising a $750,000 note rather than an equity round

Garry Tan and Sachin Agarwal co-founded Posterous, whose technology makes it easy to publish and share content on the Web, via email. There are two billion email accounts, but only 200 million blogs, leaving 1.8 billion people to reach with the Posterous technology, said Tan.

In fundRazor, host John Bautista finds out how the founders went about raising $750,000, from key angel investors, such as Satish Dharmaraj, founder of Zimbra and Eric Hahn, CTO of Netscape. And, he explores the advantages of raisimg a convertible round with a fixed valuation cap rather than a seed round.