Price and Speed

Frontline has always tried our best to price investments at what we feel are fair prices reflecting where the team, product, and the market are. We have not lost investment to a VC that was pricing a deal at a similar level as us, but we have lost deals to other VCs who were pricing it materially higher than us. Highly-priced deals by their very nature mean the VC gets less equity stake (or has to pay a lot more) speed, on the other hand, is much more interesting.