Oh and as a quick follow up, it’s probably best not to give up any equity at all (aka not raise funds - borrow if really needed but otherwise bootstrap) if you can.
If you really believe there is a revenue generating business there the worst thing you could do is give equity away at a value far below what you believe it’s worth
If you really believe there is a revenue generating business there the worst thing you could do is give equity away at a value far below what you believe it’s worth