Indeed. As if one needed more proof that the TechCrunch <-> PR industry loop is rotten to the core:

During the three months [the $15,000 per month PR firm] were working with us, their most important achievement was a piece of news that generated lots of traffic, leads and job applications, namely this TechCrunch post. It ended up being a very positive article filled with product images of Lookback. One could argue we could've achieved that post ourselves but I'm not so convinced. We had submitted news tips to multiple sites previously but to no avail.

agreed. With a seed investment, why not just use standard convertible note docs or the YC Safe notes? Did the lawyers really help?

Wait what? :)

Haha yeah, well. User account growth is indeed slowing and is down to 1% the last couple of weeks. I thought that was obvious from looking at the graph but I'll clarify it in the article. Recorded minutes are growingly steadily though and are still increasing with about 5% week over week.

(co-founder here) The lion's share of those costs are related to drafting the investment agreements. It is a lengthy process if you want to do it properly, especially if you haven't done it before. Usually you sign a term sheet first that roughly outlines the content of the agreement. The devil is in the details though, so the full agreement may take a couple of weeks to finish. Then there is due diligence, option pool, and a bunch of other stuff to consider before the deal is sealed.

Hehe, they're weeks man! It's a bad habit we use in Sweden to always refer to weeks by number: http://www.timeanddate.com/calendar/?country=21

A fairly standard SaaS model. We haven't decided exactly what yet.

Good point, and you're right. Will consider it indeed! Thanks.

Is it relevant that this company is based in Sweden?