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Chronicles the financing history of this Internet start-up and its relationships with its investors from the company's inception through its efforts to raise its second round. Examines various stages that the company goes through, including an entrepreneur-friendly first round led by Softbank, a number of creative (and potentially burdensome) debt financings that allowed the company to stretch its initial equity investment significantly, a failed first attempt to close a second round in the face of market turmoil, and the company's efforts to piece together somewhat less desirable financing to allow it to continue operations and meet its obligations to its creditors. The teaching purpose is to discuss financial issues in an entrepreneurial venture: covers the pros and cons of debt financing, the effect of terms other than valuation when evaluating a deal, and the relationship between a company and its venture capitalists.