Saul Klein And Vc Jargon

Seedcamp cofounder Saul Klein chats with Om about European markets, Niklas Zennstrom's exit from Skype and Seedcamp. Then Om and Joyce explain VC lingo in layman's terms

Is Web 2.0 taking off in Europe?

Om sits down with Saul Klein of Index Ventures and Seedcamp.com, to talk about networking essentials for early European start-ups and the cultural differences between US and UK start-ups.

Then Om presses Klein for insight on eBay's recent admission that they overpaid when they dropped $2.6 billion on Skype.

Klein, the former VP of marketing at Skype, has some interesting things to say about Niklas Zennstrom's exit from the VoIP company. (Zennstrom cofounded Joost after he left Skype.)

On the Hitlines:

Today, Om and Joyce define popular VC jargon in layman's terms:

A convertible note is a debt (loan) that can be converted into stock at:

1) a particular date

2) at the occurrence of a particular event

3) at the option of the holder or the issuer

Preferred stock, generally speaking, is a class of stock that ranks above common stock with preferential rights in areas such as voting, dividends and payment in case of liquidation.

Pre-money valuation describes the value of the company before the investment.

Post-money valuation is the value of the company after the investment.