How Liquidation Preference, Valuation and Anti-Dilution have an impact on your Exit

Founders who hold 60% of the Startup at the time of an Exit will may be surprised that they get less than 60% from the exit proceeds. The reason for this are liquidation preferences. Founders should therefore be familiar on how liquidation preferences work and what their impact is. It is further important to understand how anti dilution protection may impact the stake founders hold in the startup.