Waveup Waveup
Waveup

Uncategorized

29Oct

6 critical mistakes you’ve made in your financial model

October 29, 2020 igor Uncategorized

Financial modelling best practices or the most common ways to scare the investors off with your numbers

Ask any founder or investor about his opinion concerning start-up financial modelling best practices – the answer will be always the same. Financial models are BS (aka total rubbish). Everyone knows the numbers are made up and will probably bear zero resemblance to real life. The question is – why should we care about them at all?

The answer is pretty simple. While nobody cares about the hockey-stick growth forecast, investors do care about your strategy to drive that growth. The financial model is viewed as a critical step to reduce execution risk – easily the #1 problem with early-stage founders.

Your forecast in this case is not about how good the numbers are – it is about how good your strategy to get to these numbers is. And you should treat your model as an essential tool to prove to the investors your business acumen, understanding of the industry, and ability to execute.

The question is – how do you build a model that can convey all that and secure funding? A good start is to avoid these most common start-up model mistakes.

Get financial modelling best practices that will help you to get funded.

Free Download
01

Half of our newbie clients claim they will have a billion dollars in revenues by Year 5. More timid ones usually settle for $100M. The justification is bulletproof: applying the desired rate of month-on-month growth (aka 20% as most VCs want to see) for the first three years, and then just doubling the revenue numbers from there onwards. While there is nothing wrong with showing the hockey stick growth you do need to be aware that all (and I mean ALL) investors know your projections probably are false – and hence they want to know the story behind those numbers. Which means your financial model needs some thorough thinking around the revenue growth drivers.

financial modelling best practices

What to do about it: Persuade the investor you know where the growth will come from. Are new buyers going to discover your website through ads? Then project ad expenditures and traffic you might get, apply the standard conversion rates, and justify the revenue amount. Are you planning on using email marketing or influencers? Estimate the approximate reach and, again, think about conversions to defend the numbers you have at hand.

The key thing to remember here is that your financial model has little to do with math. What investors want to see is that you have sound financial acumen and a thorough strategy on how to drive growth. Whether or not you hit those targets later – that’s a totally different story.

financial modelling best practices

Everyone wants their business to be profitable. And that’s totally fair. But you do need to understand that balancing growth and profitability is often an impossible task for early-stage start-ups. History shows all the largest and most successful companies took years to reach profitability (7 years for Groupon and 4 years for Zynga). Most are not profitable still (Uber). Why? To expand quickly you need to burn cash really, really fast to outpace other players and satisfy investors’ growth ambitions.

And while projecting profitability is not an issue as such, projecting it at a magical 70%+ in Year 3 (95% of our clients did that at some point in time) is something no investor will buy. Industry benchmarks show that high-performing companies have an EBITDA of 20% after Year 2-4, with SaaS companies reaching 30%. Telling the investor you will earn twice as much will only make him seriously question your sanity.

What to do about it: Take a realistic and honest view of your business. Consider whether you have accounted for all the possible expense categories – hosting, customer support, legal? Have you checked what other companies in your industries are spending? Have you realistically assessed your personnel needs? A good example is sales & marketing expenditure. Most of our clients project it at 10-15% of the revenue in the last forecast year, while established technology companies usually spend at least 30-40% (and 100%+ in the first few years). Do you think you can achieve the same level of growth as the competition with lower budgets? Doubtful.

financial modelling best practices metrics

The financial models we typically see are pretty universal. Honestly, they can be applied to software subscriptions, music start-ups or even toilet seat sales. This is not a problem per se, but be aware that investors will ask for your industry-specific metrics. In SaaS it will be CAC, LTV, MRR or churn; in marketplace businesses, total transaction volume and take rate; in gaming or social networks, daily active vs weekly users; in e-commerce, rate of returns and average value. Not knowing (or not showing) those in a financial model instantly gets across a really bad message: you don’t know your industry and have no clue about how the business operates.

What to do about it: Financial forecast aside (and we’ve already established it is rubbish), what investors really care about is how sustainable your business model is. What is your customer acquisition cost vs what they will pay you? How often will the customer repurchase? These operational metrics are the key to securing the funds. They show you know your customer, you know your market, and you will use the funds wisely. So, if you haven’t already done so, get down to that industry reading and put those most prominent metrics in bold. They are your ticket to a successful round.

cash burn financial modelling best practices

Too many founders I’ve met estimate their cash requirements on a tissue based on the magical intuition in their head. I’ve had a client who decided he needed $1M (as it’s a pretty number) and then had a friend recommend he should go for $10M (because why not, the more the merrier). You might already know the end of this story. That guy ended up looking for the investment for 10 months straight before finally sitting down to do a more reliable estimation.

What to do about it: Calculating the amount of funding to raise might be challenging but, in the end, it comes down to two simple variables: a) how much money you really need, and b) how much money investors are willing to give you.

Financial modelling best practices suggest to start with determining how much funding you require for the next 18-24 months. Calculate your CAPEX (one-time expenses) and OPEX (operating expenses such as marketing / personnel etc.). Don’t forget to estimate your working capital. Revenues do not equal cash, and things like accounts receivables or inventory will affect the amount of cash you have at hand, and hence your funding requirements. Once you’ve calculated how much cash you’ll be spending in each given month you’ll have your burn rate and runway numbers.

Why only 18-24 months? Because it is a common understanding that after that period you will raise another round. Also, because investors probably won’t give you more, not at such early stages anyway. Before they commit a considerable amount of funding, they need to verify your ability to execute and hit the determined milestones.

Don’t raise more than you need. Don’t show most of that funding will be used for salaries (or administrative expenses for that matter). Do know your math. If they offer to give you less, you need to know how long it might last, or at least be prepared to defend why that desired sum is what you need to hit the growth barrier.

05

Somehow there is this widespread myth that the more spreadsheets you have, the more solid your model looks. 10 is good, 15 is better, and 20 is incredible. Add some complicated formulas on top, make sure no one can trace the logic of the model, and voilà, investors will hand you the money.

The reality is a bit different. Most investors lack both the time and motivation to spend hours on understanding where the numbers are coming from. Hence, complicated and messy models are destined for the bin. If you are lucky, your model will get into the hands of an associate, or analyst. He will send you a long list of 40-50 questions, torture you for a few weeks, but the end result will be the same – the bin. The pitch logic applies to the models as well – if you are not able to convey your model in an attractive, clear format, you probably don’t know what you are doing.

What to do about it: The best course of action: don’t overcomplicate your model. Don’t add a thousand different variables – it will make your model vulnerable to mistakes. Avoid hard plugs.

Financial modelling best practices include clearly marking your assumptions / inputs and separating them from the calculations and model outputs. This will make the calculations easy to understand and digest for an outside reader. Your end goal is to build a flexible, and effective model where anyone can audit the drivers and stress-test the assumptions.

financial modelling best practices

There is a beautiful term in finance everyone loves. GIGO – garbage in, garbage out. In simple terms, it means that the financial model created is only as good as the assumptions used to build it. So, get prepared to defend your numbers.

What to do about it: Start researching. Download benchmark studies, google competition, mail industry associations. Ask your customers, or better yet try putting the product in the actual market and test your assumptions. Ask other entrepreneurs about what they see in their businesses. This process may be burdensome, but it can provide a great “reality check” for your strategy and understanding of the business.

financial modelling best practices
  • Don’t say your projections are conservative because a) they are rarely such, and b) VCs don’t want to see conservative numbers.
  • Do know how large your market is. While this number does not come up directly in your model, investors will want to check your forecast against the size of your market.
  • Don’t take “shortcuts” to your projections (such as “we will capture 2% of the market by Year 3”). Always think about your revenue and cost drivers first and create a defendable, granular forecast.
  • Do try to show the numbers investors will like (10-20%+ MoM growth, 8-12x ROI on investment etc.). But don’t simply plug in these to project growth – rather use them as a sanity check for your assumptions.
  • Don’t build DCF valuation. Many investors consider it useless at this stage, prone to errors and subject to too much guesswork.
  • Do research competition – and don’t be arrogant. Don’t try to prove you will grow faster that other companies or spend much less money.
  • Don’t assume that “word of mouth” and other free / low-cost solutions will be enough to build customer awareness and secure your market share.
  • Do visualize your data in a way that is simple and easy to understand for investors. Add a nice and catchy dashboard with all the key numbers, graphs, and charts.

Building a solid financial model is no easy task, but it is a rewarding one in the end. Having financial projections you can rely on will be a critical milestone for your team in setting the right KPIs for growth.

At Waveup we specialize in building investor-proof models for seed / Series A+ rounds and would be happy to chat and help you to transform your business vision into hard numbers for your next round. Find out more information on what we offer & pricing here. 

startup financial model

Download Best Model Practices

Financial modelling best practices that will help you to get funded.

Download now

Have a project in mind?

Contact us
Early-stage financial model best modelling practices
Dashboard tips, proper assumption tabs, importance of benchmarks. Revenue, costs, expenses, and Pro-forma statements done right.

Get your PDF via email

    Read more
    11Oct

    Perfect pitch deck design cheats from VC perspective

    October 11, 2020 igor Uncategorized

    Nobody disputes the necessity of a strong pitch deck these days. However, most companies focus intensely on the content, while few are attentive to their pitch deck design.

    With 300+ projects in our portfolio, we at WaveUp believe that placing an emphasis on proper pitch deck design is a smart way to highlight your assets to deliver a compelling deck. It complements your story. Even if you lack traction, strategy, or other information, a solid design will serve as a good tool to hook VCs. Note: presenting information in an easy-to-understand, refined manner will surely increase your chances of moving forward with potential investors.

    In support of our design obsession, we have compiled for you a list of the best design tips with punchy “before/after” examples of the slides that are beloved by investors.

    Show numbers whenever possible

    Tons of the presentations we see on a daily basis are burdensome, long, and so, so boring. You get that feeling from the very beginning, which is most often a “Problem” slide. That is why “Problem” is one of the most important slides in the presentation. Not only does it set the tone for the rest of the deck, but it also shows investors why your solution is needed. Most people do recognize the importance of the Problem slide. However, almost everyone fails to pull off a compelling story about the problem they are solving.

    The number one reason for that is the lack of structure. As it happens, most Problem sections are just a text overload. Having seen such long, wordy slides numerous times, we identified ways to improve a textbook problem slide.

    1. Start with the structure. First, outline the context for the problem (its description, size, why it hasn’t been solved so far, etc.). Then support your context with the numbers related to the issue (e.g., how many people suffer from it or how much $ is being lost due to it).
    2. Lead with the numbers. The best way to deliver an appealing “Problem” slide is by highlighting numbers as much as possible. Why? Numbers are much easier to study than text. You can skim through them and instantly get to the point.

    To prove our ideas, we have prepared for you a “before/after” example that shows how design can change the tone of the slide.

    pitch deck design
    SLIDE1

    (PS: Just slide it.)

    See, numbers do change the angle.

    Find the right structure for your complex slides

    People always try to squeeze on one slide all the information they possess on any given topic. Generally, we would not recommend that. More information leads to more complex slides. More complex slides lead to confusion. Remember, your presentation should explain, not confuse. Confusion can be avoided though, even if you deal with complex slides like a go-to-market strategy. Check out the example below to see what we mean:

    pitch deck design
    SLIDE3

    The “Before” slide is obviously overwhelming. With so many text blocks, it’s totally illegible. On the other hand, our slide has everything in place. We provide structured information, presented as a sequence, and grouped by key elements (Products, Segments, etc.). This is a perfect layout to tell investors three things:

    • Our strategy is well-defined;
    • We understand our strategy;
    • We can outline our strategy so that it can be studied in less than a minute.

    Always compare your product

    In your deck you will obviously need to describe how your product works. Most often companies do it by explaining step by step what their products do. Nevertheless, we don’t believe this to be a good choice, as you may leave an investor wondering whether your process is any better than those that already exist. So, we went one step further. Pun intended.

    Instead of just showing the process, we also provide a comparison of steps involved. We first show how the issue is currently tackled on the market and how many steps it involves.

    Then we show our solution, step by step. The comparison helps to show why our product/solution is superior. Take a look at the example:
    pitch deck design
    SLIDE5

    What we are saying is: “Look, our product cuts by half the number of steps required to solve the issue. Therefore, our product is better.”

    Go creative when you lack data

    We all know how important it is to show traction to a potential investor. It is great when you have a handful of stats to display. We would generally advise you to use graphs and charts that deliver a clear picture of your venture. However, this will not work well if you have little to no data to present. If that is your case, we strongly recommend using the following:

    Customer logos and reviews – These don’t need to be paying clients; maybe you have done demos for some big brands that can capture the attention of investors; Why not include them?

    Maps – If you have done business in different locations, highlight them on a map. This will let investors know that you are already a global venture.

    Press mentions – It is always a good option to share quotes written by some popular press sources. This will show that you already have public approval.

    To see what we mean, let’s analyze the example below:

    pitch deck design
    SLIDE7

    If you look at the ”before” picture, you will find it quite generic and empty. Four countries—not much. Generic text bullets—boring. However, our version of the map with brand logos and highlighted numbers shows that you already operate on three continents, work with global brands, and—last but not least—have some initial traction.

    Graphs are always a good choice for financial slides

    Yes, we do insist on using graphs and numbers whenever it is appropriate, as they are the perfect way to display any kind of growth or breakdown. The above is especially ideal for your financial slides. Check this out:

    pitch deck design
    Financial Outlook (Before) V2

    Our example shows once again how graphs can change the overall look of the slide as well as its legibility.

    Comparing features is not a good way to deliver a compelling competition slide

    All decks should contain competitor analysis. Many companies, however, simply compare features of their product with the direct competitors’ products. What we can say from our experience is that this strategy is not efficient. Look, features do not provide lasting defensibility.

    Instead, a good way to deal with the Competition section is to outline a clear positioning with a brand map, a tool designed to outline the market landscape of direct and indirect competitors through a graph. Take a look at the example:

    pitch deck design
    SLIDE11

    Rather than just showing some incredible characteristics of your product, with this layout you will say the following:

    • Your product wins over direct competition.
    • It is hard to copy.
    • Big brands are not a threat to your product, as you do not compete directly.
    • You know your market landscape perfectly well.

    Add value to your team slide with logos and meaningful bios

    The Team slide is a crucial part of any presentation. Investors study this slide longer than any other slide of the deck. Nonetheless, Team slides either miss something (team members and their bios) or they are overwhelmed with something (yes, team members and their bios).

    To address that, we would like to show you how to create a balanced Team section. Consider this:

    • Always use logos of the companies related to you and your team; This will work especially well if you used to work for a big company, like Google, but were not a senior there.
    • Bios should prove only one thing: you and your team can successfully manage the business you are offering in the deck. So, write only concise bios with the most relevant facts that support this idea.
    • Mention advisers separately. Generally, investors are only interested in the core team.
    • Put up to six people on one slide. The Team slide should only contain the core team. “The more the better” principle does not apply here.

    To wrap it all up, let’s check our final example:

    pitch deck design
    SLIDE13

    Could you please sum up? I am running out of time.

    What we tried to communicate through this article is that design is a tool that brings your pitch deck to a whole new level of legibility, attractiveness, and professionalism. It can help you to compensate for your lack of data, strategy, and other inputs by presenting everything in a reinvented, appealing manner. Remember: a good pitch deck design is the solid bridge that connects you and your potential investor. That’s why it must be outstanding in every aspect, including design.

    Have a project in mind?

    Contact us
    Read more
    28Feb

    Terms of Service

    February 28, 2016 igor Uncategorized

    The following terms and conditions govern all use of thewaveup.com website and all content, services and products available at or through the website (taken together, the Website). The Website is owned and operated by Waveup OÜ (“Waveup”). The Website is offered subject to your acceptance without modification of all of the terms and conditions contained herein and all other operating rules, policies (including, without limitation, Waveup’ Privacy Policy) and procedures that may be published from time to time on this Site by Waveup (collectively, the “Agreement”).

    Please read this Agreement carefully before accessing or using the Website. By accessing or using any part of the web site, you agree to become bound by the terms and conditions of this agreement. If you do not agree to all the terms and conditions of this agreement, then you may not access the Website or use any services. If these terms and conditions are considered an offer by Waveup, acceptance is expressly limited to these terms.

    Your Account and Site

    If you create a blog/site on the Website, you are responsible for maintaining the security of your account and blog, and you are fully responsible for all activities that occur under the account and any other actions taken in connection with the blog. You must not describe or assign keywords to your blog in a misleading or unlawful manner, including in a manner intended to trade on the name or reputation of others, and Waveup may change or remove any description or keyword that it considers inappropriate or unlawful, or otherwise likely to cause Waveup liability. You must immediately notify Waveup of any unauthorized uses of your blog, your account or any other breaches of security. Waveup will not be liable for any acts or omissions by You, including any damages of any kind incurred as a result of such acts or omissions.

    Responsibility of Contributors

    If you operate a blog, comment on a blog, post material to the Website, post links on the Website, or otherwise make (or allow any third party to make) material available by means of the Website (any such material, “Content”), You are entirely responsible for the content of, and any harm resulting from, that Content. That is the case regardless of whether the Content in question constitutes text, graphics, an audio file, or computer software. By making Content available, you represent and warrant that:

    • the downloading, copying and use of the Content will not infringe the proprietary rights, including but not limited to the copyright, patent, trademark or trade secret rights, of any third party;
    • if your employer has rights to intellectual property you create, you have either (i) received permission from your employer to post or make available the Content, including but not limited to any software, or (ii) secured from your employer a waiver as to all rights in or to the Content;
    • you have fully complied with any third-party licenses relating to the Content, and have done all things necessary to successfully pass through to end users any required terms;
    • the Content does not contain or install any viruses, worms, malware, Trojan horses or other harmful or destructive content;
    • the Content is not spam, is not machine- or randomly-generated, and does not contain unethical or unwanted commercial content designed to drive traffic to third party sites or boost the search engine rankings of third party sites, or to further unlawful acts (such as phishing) or mislead recipients as to the source of the material (such as spoofing);
    • the Content is not pornographic, does not contain threats or incite violence towards individuals or entities, and does not violate the privacy or publicity rights of any third party;
    • your blog is not getting advertised via unwanted electronic messages such as spam links on newsgroups, email lists, other blogs and web sites, and similar unsolicited promotional methods;
    • your blog is not named in a manner that misleads your readers into thinking that you are another person or company. For example, your blog’s URL or name is not the name of a person other than yourself or company other than your own; and
    • you have, in the case of Content that includes computer code, accurately categorized and/or described the type, nature, uses and effects of the materials, whether requested to do so by Waveup or otherwise.

    By submitting Content to Waveup for inclusion on your Website, you grant Waveup a world-wide, royalty-free, and non-exclusive license to reproduce, modify, adapt and publish the Content solely for the purpose of displaying, distributing and promoting your blog. If you delete Content, Waveup will use reasonable efforts to remove it from the Website, but you acknowledge that caching or references to the Content may not be made immediately unavailable.

    Without limiting any of those representations or warranties, Waveup has the right (though not the obligation) to, in Waveup’ sole discretion (i) refuse or remove any content that, in Waveup’ reasonable opinion, violates any Waveup policy or is in any way harmful or objectionable, or (ii) terminate or deny access to and use of the Website to any individual or entity for any reason, in Waveup’ sole discretion. Waveup will have no obligation to provide a refund of any amounts previously paid.

    Payment

    General Terms
    By selecting a product or service, you agree to pay Waveup the one-time and/or monthly fees indicated (additional payment terms may be included in other communications). Payments are non-refundable.

    Responsibility of Website Visitors

    Waveup has not reviewed, and cannot review, all of the material, including computer software, posted to the Website, and cannot therefore be responsible for that material’s content, use or effects. By operating the Website, Waveup does not represent or imply that it endorses the material there posted, or that it believes such material to be accurate, useful or non-harmful. You are responsible for taking precautions as necessary to protect yourself and your computer systems from viruses, worms, Trojan horses, and other harmful or destructive content. The Website may contain content that is offensive, indecent, or otherwise objectionable, as well as content containing technical inaccuracies, typographical mistakes, and other errors. The Website may also contain material that violates the privacy or publicity rights, or infringes the intellectual property and other proprietary rights, of third parties, or the downloading, copying or use of which is subject to additional terms and conditions, stated or unstated. Waveup disclaims any responsibility for any harm resulting from the use by visitors of the Website, or from any downloading by those visitors of content there posted.

    Content Posted on Other Websites

    We have not reviewed, and cannot review, all of the material, including computer software, made available through the websites and webpages to which thewaveup.com links, and that link to thewaveup.com. Waveup does not have any control over those non-Waveup websites and webpages, and is not responsible for their contents or their use. By linking to a non-Waveup website or webpage, Waveup does not represent or imply that it endorses such website or webpage. You are responsible for taking precautions as necessary to protect yourself and your computer systems from viruses, worms, Trojan horses, and other harmful or destructive content. Waveup disclaims any responsibility for any harm resulting from your use of non-Waveup websites and webpages.

    Copyright Infringement and DMCA Policy

    As Waveup asks others to respect its intellectual property rights, it respects the intellectual property rights of others. If you believe that material located on or linked to by thewaveup.com violates your copyright, you are encouraged to notify Waveup in accordance with Waveup’s Digital Millennium Copyright Act (“DMCA”) Policy. Waveup will respond to all such notices, including as required or appropriate by removing the infringing material or disabling all links to the infringing material. Waveup will terminate a visitor’s access to and use of the Website if, under appropriate circumstances, the visitor is determined to be a repeat infringer of the copyrights or other intellectual property rights of Waveup or others. In the case of such termination, Waveup will have no obligation to provide a refund of any amounts previously paid to Waveup.

    Intellectual Property

    This Agreement does not transfer from Waveup to you any Waveup or third party intellectual property, and all right, title and interest in and to such property will remain (as between the parties) solely with Waveup. Waveup, thewaveup.com, thewaveup.com logo, and all other trademarks, service marks, graphics and logos used in connection with thewaveup.com, or the Website are trademarks or registered trademarks of Waveup or Waveup’ licensors. Other trademarks, service marks, graphics and logos used in connection with the Website may be the trademarks of other third parties. Your use of the Website grants you no right or license to reproduce or otherwise use any Waveup or third-party trademarks.

    Waveup reserves the right to display advertisements on your blog unless you have purchased an ad-free account.

    Waveup reserves the right to display attribution links such as ‘Blog at thewaveup.com,’ theme author, and font attribution in your blog footer or toolbar.

    Domain Names

    If you are registering a domain name, using or transferring a previously registered domain name, you acknowledge and agree that use of the domain name is also subject to the policies of the Internet Corporation for Assigned Names and Numbers (“ICANN”), including their Registration Rights and Responsibilities.

    Waveup reserves the right, at its sole discretion, to modify or replace any part of this Agreement. It is your responsibility to check this Agreement periodically for changes. Your continued use of or access to the Website following the posting of any changes to this Agreement constitutes acceptance of those changes. Waveup may also, in the future, offer new services and/or features through the Website (including, the release of new tools and resources). Such new features and/or services shall be subject to the terms and conditions of this Agreement.

    Waveup may terminate your access to all or any part of the Website at any time, with or without cause, with or without notice, effective immediately. If you wish to terminate this Agreement or your thewaveup.com account (if you have one), you may simply discontinue using the Website. Notwithstanding the foregoing, if you have a paid services account, such account can only be terminated by Waveup if you materially breach this Agreement and fail to cure such breach within thirty (30) days from Waveup’ notice to you thereof; provided that, Waveup can terminate the Website immediately as part of a general shut down of our service. All provisions of this Agreement which by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability.

    Disclaimer of Warranties

    The Website is provided “as is”. Waveup and its suppliers and licensors hereby disclaim all warranties of any kind, express or implied, including, without limitation, the warranties of merchantability, fitness for a particular purpose and non-infringement. Neither Waveup nor its suppliers and licensors, makes any warranty that the Website will be error free or that access thereto will be continuous or uninterrupted. You understand that you download from, or otherwise obtain content or services through, the Website at your own discretion and risk.

    Limitation of Liability

    In no event will Waveup, or its suppliers or licensors, be liable with respect to any subject matter of this agreement under any contract, negligence, strict liability or other legal or equitable theory for: (i) any special, incidental or consequential damages; (ii) the cost of procurement for substitute products or services; (iii) for interruption of use or loss or corruption of data; or (iv) for any amounts that exceed the fees paid by you to Waveup under this agreement during the twelve (12) month period prior to the cause of action. Waveup shall have no liability for any failure or delay due to matters beyond their reasonable control. The foregoing shall not apply to the extent prohibited by applicable law.

    General Representation and Warranty

    You represent and warrant that (i) your use of the Website will be in strict accordance with the Waveup Privacy Policy, with this Agreement and with all applicable laws and regulations (including without limitation any local laws or regulations in your country, state, city, or other governmental area, regarding online conduct and acceptable content, and including all applicable laws regarding the transmission of technical data exported from the United States or the country in which you reside) and (ii) your use of the Website will not infringe or misappropriate the intellectual property rights of any third party.

    You agree to indemnify and hold harmless Waveup, its contractors, and its licensors, and their respective directors, officers, employees and agents from and against any and all claims and expenses, including attorneys’ fees, arising out of your use of the Website, including but not limited to your violation of this Agreement.

    Read more
    28Feb

    Privacy Policy

    February 28, 2016 igor Uncategorized

    Waveup will not rent or sell potentially personally-identifying and personally-identifying information to anyone.

    Waveup OÜ (“Waveup“) operates thewaveup.com and may operate other websites. It is Waveup’ policy to respect your privacy regarding any information we may collect while operating our websites.

    Website visitors

    Like most website operators, Waveup collects non-personally-identifying information of the sort that web browsers and servers typically make available, such as the browser type, language preference, referring site, and the date and time of each visitor request. Waveup’ purpose in collecting non-personally identifying information is to better understand how Waveup’ visitors use its website. From time to time, Waveup may release non-personally-identifying information in the aggregate, e.g., by publishing a report on trends in the usage of its website.

    Waveup also collects potentially personally-identifying information like Internet Protocol (IP) addresses for logged in users and for users leaving comments on thewaveup.com blogs/sites. Waveup only discloses logged in user and commenter IP addresses under the same circumstances that it uses and discloses personally-identifying information as described below, except that commenter IP addresses are visible and disclosed to the administrators of the blog/site where the comment was left.

    Gathering of Personally-Identifying Information

    Certain visitors to Waveup’ websites choose to interact with Waveup in ways that require Waveup to gather personally-identifying information. The amount and type of information that Waveup gathers depends on the nature of the interaction. For example, we ask visitors who sign up at thewaveup.com to provide a username and email address. Those who engage in transactions with Waveup are asked to provide additional information, including as necessary the personal and financial information required to process those transactions. In each case, Waveup collects such information only insofar as is necessary or appropriate to fulfill the purpose of the visitor’s interaction with Waveup. Waveup does not disclose personally-identifying information other than as described below. And visitors can always refuse to supply personally-identifying information, with the caveat that it may prevent them from engaging in certain website-related activities.

    Aggregated statistics

    Waveup may collect statistics about the behavior of visitors to its websites. Waveup may display this information publicly or provide it to others. However, Waveup does not disclose personally-identifying information other than as described below.

    Protection of Certain Personally-Identifying Information

    Waveup discloses potentially personally-identifying and personally-identifying information only to those of its employees, contractors and affiliated organizations that (i) need to know that information in order to process it on Waveup’ behalf or to provide services available at Waveup’ websites, and (ii) that have agreed not to disclose it to others. Some of those employees, contractors and affiliated organizations may be located outside of your home country; by using Waveup’ websites, you consent to the transfer of such information to them. Waveup will not rent or sell potentially personally-identifying and personally-identifying information to anyone. Other than to its employees, contractors and affiliated organizations, as described above, Waveup discloses potentially personally-identifying and personally-identifying information only in response to a subpoena, court order or other governmental request, or when Waveup believes in good faith that disclosure is reasonably necessary to protect the property or rights of Waveup, third parties or the public at large. If you are a registered user of Waveup website and have supplied your email address, Waveup may occasionally send you an email to tell you about new features, solicit your feedback, or just keep you up to date with what’s going on with Waveup and our products. If you send us a request (for example via email or via one of our feedback mechanisms), we reserve the right to publish it in order to help us clarify or respond to your request or to help us support other users. Waveup takes all measures reasonably necessary to protect against the unauthorized access, use, alteration or destruction of potentially personally-identifying and personally-identifying information.

    Cookies

    A cookie is a string of information that a website stores on a visitor’s computer, and that the visitor’s browser provides to the website each time the visitor returns. Waveup uses cookies to help Waveup identify and track visitors, their usage of Waveup website, and their website access preferences. Waveup visitors who do not wish to have cookies placed on their computers should set their browsers to refuse cookies before using Waveup’ websites, with the drawback that certain features of Waveup’ websites may not function properly without the aid of cookies.

    Business Transfers

    If Waveup, or substantially all of its assets, were acquired, or in the unlikely event that Waveup goes out of business or enters bankruptcy, user information would be one of the assets that is transferred or acquired by a third party. You acknowledge that such transfers may occur, and that any acquirer of Waveup may continue to use your personal information as set forth in this policy.

    Ads

    Ads appearing on any of our websites may be delivered to users by advertising partners, who may set cookies. These cookies allow the ad server to recognize your computer each time they send you an online advertisement to compile information about you or others who use your computer. This information allows ad networks to, among other things, deliver targeted advertisements that they believe will be of most interest to you. This Privacy Policy covers the use of cookies by Waveup and does not cover the use of cookies by any advertisers.

    Privacy Policy Changes

    Although most changes are likely to be minor, Waveup may change its Privacy Policy from time to time, and in Waveup’ sole discretion. Waveup encourages visitors to frequently check this page for any changes to its Privacy Policy. If you have thewaveup.com account, you might also receive an alert informing you of these changes. Your continued use of this site after any change in this Privacy Policy will constitute your acceptance of such change.

    Read more

    What we do

    • Growth & Strategy
    • Fundraising Support
    • Outsourced M&A transaction services

    Our company

    • Case Studies
    • About us

    Information

    • Terms of Service
    • Privacy Policy
    • Contact us

    Subscribe to newsletter

    © 2020 Waveup  | All Rights Reserved  | Terms of Service | Privacy Policy