I talked to two investors total who cared about valuation.
One is a smaller angel, but a pretty good guy. We stopped before getting to the actual terms (since we decided not to do a big raise at the time, but rather to do low burn and launch first), but he has a reputation for being cheap about valuation to the extent that it kept him out of some deals.
The second was IMO the best investor I've talked to to date. his super angel fund wasn't valuation sensitive except that they had a thing against uncapped notes, having done precisely one before and gotten fucked on it. We were trying to defer any talk of valuation by using terms copied from the START note. I kind of regret not just naming a number right then (really, anything in a 2x range would have been adequate), since this investor essentially no longer exists.
One is a smaller angel, but a pretty good guy. We stopped before getting to the actual terms (since we decided not to do a big raise at the time, but rather to do low burn and launch first), but he has a reputation for being cheap about valuation to the extent that it kept him out of some deals.
The second was IMO the best investor I've talked to to date. his super angel fund wasn't valuation sensitive except that they had a thing against uncapped notes, having done precisely one before and gotten fucked on it. We were trying to defer any talk of valuation by using terms copied from the START note. I kind of regret not just naming a number right then (really, anything in a 2x range would have been adequate), since this investor essentially no longer exists.