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Era 3 · Series A

Your first Exit

Grow a Company to Series A, take your first Exit, earn Legacy, and found your next Company.

In this lesson you end your first Company with an Exit, earn Legacy, and start a new Company. Your first Exit becomes available in Series A, so this lesson starts in Pre-seed and spans a long session.

Reach Series A#

Each funding round opens when your users reach its target. You raised the first round in Your first incident. Raise two more the same way.

  1. Grow to the Pre-seed target. The Seed offer button appears under the Era name on the HUD.

  2. Click it, and select Raise. Read the Era card, and select Continue.

  3. Grow to the Seed target. The Series A offer button appears.

  4. Click it, and select Raise. Read the Era card, and select Continue.

The Eras reference lists each target. Each round gives Cash and takes a share of your Equity. Keep your Equity in mind: your Exit pays only your share.

On the way, use what you learned. Fix each bottleneck, respond to each incident, and file each postmortem. Find the bottleneck is a good companion.

Find the Exit button#

When the HUD shows Series A, a new Exit button appears in the toolbar at the top right. It has a door icon. A green badge on it shows the most Legacy you can earn now. On a phone, Exit is in the More menu.

While the badge is missing, your Exit would pay no Legacy. Keep growing until the badge shows a number.

Read the offer#

  1. Click Exit. The Exit panel opens.

  2. Read the four numbers at the top:

    • Valuation: what the market thinks your Company is worth now.

    • Rule of 40: your user growth plus your margin. A higher score raises the valuation.

    • Equity: the share of the Company that you still own.

    • Legacy ×: the multiplier from your Venture and Mutators.

  3. Read the Acqui-hire row. It shows the payout and the Exit's multiplier.

The payout is your Equity times the valuation times the Exit's multiplier. An Acqui-hire pays on a capped valuation at half the multiplier. Legacy grows with the square root of the payout, so a payout four times as large earns twice the Legacy.

From Series B, an Acquisition row appears too. It pays the full valuation. You can wait for it, but this lesson takes the first Exit, to show you the whole loop.

Take the Exit#

  1. Select Take on the Acqui-hire row. The button shows the Legacy it pays.

  2. Read the summary. It shows a small drawing of your final Design and your Legacy, such as +3 Legacy.

  3. Read the four numbers under it: Payout, Peak users, Era, and Played.

The Company is over. It goes into your history, with its board, its Stack, and its payout.

Spend your Legacy#

  1. Select Legacy shop on the summary. The shop lists each Perk with its level, its effect, and its price in Legacy.

  2. Select one Perk that you can afford. Its level goes up by one.

  3. Select Back. The main menu opens.

Perks last for every future Company. For example, Angel network doubles your starting Cash, and Institutional knowledge keeps one Research item through an Exit. See Perks for the full list.

If you prefer to save your Legacy, skip the purchase. Legacy also unlocks new Ventures.

Found your next Company#

  1. On the main menu, select Start a company. Because you have an Exit, the founding menu opens.

  2. Read the Venture list. A Venture sets the kind of company: its request mix, its demand shape, and its rules. Your first Venture is selected.

  3. Read the Mutators list. Mutators make a Company harder for more Legacy. You unlock them with achievements, so they may all show a lock now.

  4. Select Found. Its row shows the starting Era and the Legacy multiplier.

The new Company starts over: new Cash, new users, no Research, and a new board. Your Legacy, your Perks, and your history stay.

Your next Company also shows every control from the start, and it adds Playbooks. Press P to open them. A Playbook saves part of a Design, so you can place a known-good Garage setup in one action.

What you learned#

  • Exits open in Series A, and the Exit button shows the Legacy you can earn.

  • The payout is Equity times valuation times the Exit's multiplier.

  • Legacy buys Perks that last for every future Company.

  • A new Company starts over, but faster, with Perks and Playbooks.

Next: read Why a Company ends, then Prepare for an Exit for your next run.

NextWhy a Company ends