I'm in the middle of raising money for my startup. We have had some initial success (and lots of failed attempts!), and are getting close to finalizing our round. We are a very small company right now. There are two co-founders and a handful of employees, so a very tight-knit group.
What are the pros & cons of discussing our fundraising status with our employees?
How much detail should we go into?
Is there any reason to keep the amount raised private? What about the terms?
On the flipside, should we be 100% transparent about our efforts, as a way of motivating employees that we're actively engaged in growing the company?
Should we wait until the deal has fully closed? Or after we sign a term sheet?