True or False

1. The table indicates that the founders should not have sold 400 shares in the series D round for $2.99 a share. The funding round lowered the value of the series A investors.

	funding round	Total Outstanding shares	shares sold to outside investors	outside investment	percent sold to outside investor	Founder Shares	Value of a founder Share
0	self	1000	0	0	0	1000	$1
1	pre-seed	1400	400	$480.00	28.57%	1000	$1.20
2	seed	1800	400	$576.00	22.22%	1000	$1.44
3	Series A	2200	400	$691.20	18.18%	1000	$1.73
4	Series B	2600	400	$829.44	15.38%	1000	$2.07
5	Series C	3000	400	$995.33	13.33%	1000	$2.49
6	Series D	3400	400	$1,194.39	11.76%	1000	$2.99
7	Series E	3800	400	$1,433.27	10.53%	1000	$3.58
8	IPO	4800	1000	$10,000.00	20.83%	1000	$10

True

False