Are you not profitable? Why do you need VC money if you are worth 400M?
I would start calling the VC firms everyday to set up an appointment. You have revenue and a proven product which is leaps and bounds ahead of most pitches they see. At the very least you can use these term sheets to increase the acquisition offer and give urgency for the acquiring company to act. You do not want to let them come in and learn everything and leave as I have seen this happen with a company I was a contractor for.
I would start calling the VC firms everyday to set up an appointment. You have revenue and a proven product which is leaps and bounds ahead of most pitches they see. At the very least you can use these term sheets to increase the acquisition offer and give urgency for the acquiring company to act. You do not want to let them come in and learn everything and leave as I have seen this happen with a company I was a contractor for.