The best thing for founders, if they can get it, is a convertible note with no valuation cap at all.

对于创始人们最好的，如果他们可以得到的话，是一个没有任何估值上限的可换股票据。

youdao

The funding will remain as convertible notes with no valuation cap and no discount.

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Although no valuation has been released for the transaction, Lenovo executives say that it is not sufficiently material to require disclosure in financial statements.

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There is no tech bubble valuation like in 2000, just the bubble of disappointment.

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