[logicallee]

all of the above (yes to all seven question marks) except for number four receiving funding (from a vc), as in check clears, no that hasn't happened yet.

going through this process now - and I can tell you, if I fucked up with one VC I would fuck up with them all. everyone talks.

On the flip side, when you're hot everyone wants you, you don't have enough equity to sell to everyone!

[jacquesm]

Check out the story behind Cisco before you give up.

And on another note, ask a VC if they reject you why they reject you, there really is a huge difference in the spectrum of available parties to work with, from assholes to fantastic people to work with and everything in between, make sure you partner with a group that feels right rather than just looking at the terms sheet. That's where the action is of course but sometimes it is better not to have a deal than to have a deal with the wrong party.

[mchusma]

I think you overestimate how efficient the VC market is. You can fuck up a lot of pitches and still close. In fact, most people hear No much more than Yes. Very rare to just walk in and get an offer without knocking on doors.