Title: I recently learned that my co-founder and I have been offered seed funding from a VC.  Our startup is working on a web app (I'm being purposely vague).   The terms they are offering are a $25,000 investment with 70% common stock for the two founders, 10% common stock for themselves, and a 20% option pool, and they keep the right to invest up to 25% in the next round.  They also propose a 3 person board - 1 of them, 1 of us, and 1 outside adviser.<p>How fair would you consider this offer, based on the information given?  It is about what I expected, but I don't really have much experience -- most of what I know comes from attending Startup School.  Also, are we allowed to make a counter-offer, or is that not really an option?<p>Thanks!
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