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Framework Series A-1

by siraben on 4/23/24, 2:25 PM with 38 comments

• by rkagerer on 4/23/24, 6:38 PM

  A few questions regarding the community investment RUV:

  1. What was the valuation at your last round, and what is it for this one (approximately)?

  2. Are the shares illiquid or will it be possible to sell your stake to another accredited investor prior to the next round of funding?

  3. Your application mentions "the RUV will sign a proxy voting agreement with ... Nirav Patel that will allow him to determine how to vote the RUV's shares for most matters". Is there a draft available of that agreement, or alternatively can you share some examples of matters where community investors would be entitled to vote? (e.g. leadership confidence, tender offer)

  4. Will these investors have a right & opportunity to inspect your corporate books and records, and attend shareholder meetings?

  5. Is a copy of the NDA available for review at this time? (completed the application and haven't received one yet)

  I gather the basic intent is community investors are 'along for the ride' - deposit your money here, maybe one day if we go public you'll have a nice little payoff - but want to understand what knobs and levers might be available in the interim.

  Thanks!

  Ps. Step 5 in the application process has an asterisk at the end of the paragraph, as if referencing fine print elsewhere. But there is no fine print (https://i.imgur.com/P0DHZhl.png)

• by Mxbonn on 4/23/24, 2:58 PM

  I love framework. Have been using as my main device during the last years of my PhD. However now that I got a company mac book I was using it less and less, so I decided to buy the Cooler Master mainboard case and now I'm using it as a home server. Wouldn't have been able to do that with any other laptop.

• by dangle1 on 4/23/24, 2:30 PM

  Also includes a "Community Participation" element offering the opportunity for up to 100 SEC Accredited Investors to invest $10K each.

• by ring-c on 4/23/24, 4:13 PM

  Well, maybe now they start deliver worldwide (DHL/UPS is OK!). This is insane, unable to buy product from a company.

• by Aissen on 4/23/24, 2:55 PM

  Isn't it a bit of small round for a hardware startup? It's basically the amount of money put in a single 10000 units batch of the latest framework 16. Multiply that by ~3 to account for lower effective BOM, and I still find this low for a capital-intensive business, that still needs to pay its employees.

• by cacois on 4/23/24, 2:57 PM

  Folks that have Framework laptops, how is the latest generation hardware as a daily driver? I've not been following as closely as I could, but am very interested in the mission and ideas.

• by incomingpain on 4/23/24, 2:56 PM

  Im excited to see them go forward.

  They need to get their pricing down. What costs $3k for them, is below $1.5k from say lenovo or dell.

• by lopkeny12ko on 4/23/24, 2:55 PM

  Quite disappointing to see. I respected Framework a lot as an upstart in the hardware space. What's wrong with responsibly building a sustainable business model? Why the "growth at any cost" mindset? The moment you accept VC funds, they'll expect a return on their investment, giving way to inevitable enshittification of products.

• by giantrobot on 4/23/24, 2:45 PM

  Page hijacks scrolling on Safari iOS. Browsers have been able to scroll content for decades, you don't need to reinvent scrolling but worse in JavaScript.