T\u00fcrkiye’den ABD’ye a\u00e7\u0131lan giri\u015fimlerde defalarca ayn\u0131 tabloyu g\u00f6r\u00fcyoruz. \u00dcr\u00fcn haz\u0131r, ekip haz\u0131r, hatta gelir bile var. Ama sermaye yap\u0131s\u0131 bir Excel dosyas\u0131nda, iki y\u0131l \u00f6nce imzalanan SAFE’ler klas\u00f6r\u00fcn bir yerinde, kurucular\u0131n hisseleri i\u00e7in 83(b) bildirimi hi\u00e7 yap\u0131lmam\u0131\u015f. Yat\u0131r\u0131mc\u0131 bunlar\u0131 sordu\u011funda s\u00fcre\u00e7 durmaz ama yava\u015flar. Yava\u015flayan s\u00fcre\u00e7te de\u011ferleme de d\u00fc\u015fer.<\/p>\n
Bu yaz\u0131, term sheet gelmeden \u00f6nce yap\u0131lmas\u0131 gereken finansal haz\u0131rl\u0131\u011f\u0131 \u00fc\u00e7 ba\u015fl\u0131kta topluyor: sermaye yap\u0131s\u0131, de\u011ferleme ve diligence dosyas\u0131. T\u00fcrk kurucular\u0131n \u00f6zellikle tak\u0131ld\u0131\u011f\u0131 noktalara ayr\u0131 bir b\u00f6l\u00fcm ay\u0131rd\u0131k.<\/p>\n
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Cap table (sermaye tablosu), \u015firketin hisselerinin kimde oldu\u011funu, hangi fiyattan al\u0131nd\u0131\u011f\u0131n\u0131 ve gelecekte kimin ne kadar hisseye d\u00f6n\u00fc\u015febilecek hakk\u0131 oldu\u011funu g\u00f6steren kay\u0131tt\u0131r. Kula\u011fa basit geliyor. Pratikte bozulmas\u0131n\u0131n nedeni de bu: basit g\u00f6r\u00fcnd\u00fc\u011f\u00fc i\u00e7in ciddiye al\u0131nm\u0131yor.<\/p>\n
A\u015fa\u011f\u0131dakiler teorik senaryolar de\u011fil, son iki y\u0131lda m\u00fc\u015fteri dosyalar\u0131nda kar\u015f\u0131la\u015ft\u0131klar\u0131m\u0131z.<\/p>\n
Bir cap table’\u0131n minimum i\u00e7ermesi gerekenler: hissedar ad\u0131, hisse s\u0131n\u0131f\u0131 (common \/ preferred), hisse adedi, \u00f6denen fiyat, al\u0131m tarihi, vesting takvimi, d\u00f6n\u00fc\u015febilir enstr\u00fcmanlar\u0131n (SAFE, note) tutar\u0131 ve d\u00f6n\u00fc\u015f\u00fcm ko\u015fullar\u0131. Buna ek olarak d\u00f6n\u00fc\u015f\u00fcm sonras\u0131 y\u00fczdeleri g\u00f6steren ikinci bir g\u00f6r\u00fcn\u00fcm haz\u0131rlay\u0131n.<\/p>\n
SAFE’lerin \u201cpre-money\u201d mi \u201cpost-money\u201d mi oldu\u011funu mutlaka not edin. Y Combinator’\u0131n 2018 sonras\u0131 standart SAFE’i post-money’dir ve seyrelmeyi do\u011frudan mevcut hissedarlar\u0131n \u00fczerine b\u0131rak\u0131r. \u0130ki farkl\u0131 SAFE tipini kar\u0131\u015ft\u0131ran bir tabloda kurucunun ger\u00e7ek pay\u0131, hesaplad\u0131\u011f\u0131ndan birka\u00e7 puan d\u00fc\u015f\u00fck \u00e7\u0131kar.<\/p>\n
\u00d6rnek bir d\u00f6n\u00fc\u015f\u00fcm senaryosu:<\/p>\n
| \n Senaryo<\/strong><\/p>\n<\/td>\n Yat\u0131r\u0131m \u00f6ncesi kurucu pay\u0131<\/strong><\/p>\n<\/td>\n SAFE tipi<\/strong><\/p>\n<\/td>\n D\u00f6n\u00fc\u015f\u00fcm sonras\u0131 kurucu pay\u0131<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/thead>\n\n 500.000 $ SAFE, 5 M$ tavan<\/p>\n<\/td>\n %100<\/p>\n<\/td>\n Post-money<\/p>\n<\/td>\n %90<\/p>\n<\/td>\n<\/tr>\n 500.000 $ SAFE, 5 M$ tavan<\/p>\n<\/td>\n %100<\/p>\n<\/td>\n Pre-money<\/p>\n<\/td>\n %90,9<\/p>\n<\/td>\n<\/tr>\n 2 \u00d7 500.000 $ SAFE, ayn\u0131 tavan<\/p>\n<\/td>\n %100<\/p>\n<\/td>\n Post-money<\/p>\n<\/td>\n %80<\/p>\n<\/td>\n<\/tr>\n 2 \u00d7 500.000 $ SAFE, ayn\u0131 tavan<\/p>\n<\/td>\n %100<\/p>\n<\/td>\n Pre-money<\/p>\n<\/td>\n %83,3<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Tek bir SAFE’te fark k\u00fc\u00e7\u00fck g\u00f6r\u00fcn\u00fcyor. \u00dc\u00e7 tur SAFE toplad\u0131ktan sonra ayn\u0131 fark birka\u00e7 y\u00fcz bin dolara denk geliyor.<\/em><\/p>\n \n Kurucular\u0131n en s\u0131k kar\u0131\u015ft\u0131rd\u0131\u011f\u0131 konu bu. ABD’de bir startup’\u0131n iki ayr\u0131 de\u011ferlemesi olur ve ikisi de ayn\u0131 anda do\u011frudur.<\/p>\n 409A, ba\u011f\u0131ms\u0131z bir de\u011ferleme uzman\u0131n\u0131n common stock (adi hisse) i\u00e7in belirledi\u011fi adil piyasa de\u011feridir. Ekibe verilen hisse opsiyonlar\u0131n\u0131n kullan\u0131m fiyat\u0131 buradan \u00e7\u0131kar. Amac\u0131 vergi uyumudur: opsiyonu piyasa de\u011ferinin alt\u0131nda bir fiyattan verirseniz, \u00e7al\u0131\u015fan i\u00e7in an\u0131nda vergilenebilir gelir do\u011far ve Section 409A cezalar\u0131 devreye girer.<\/p>\n Pratik kural: her 12 ayda bir veya \u00f6nemli bir olaydan (yat\u0131r\u0131m turu, b\u00fcy\u00fck m\u00fc\u015fteri kayb\u0131, \u00fcr\u00fcn pivotu) sonra yenilenir. 409A raporu olmadan opsiyon da\u011f\u0131tan bir \u015firket, diligence’ta d\u00fczeltilmesi pahal\u0131 bir sorun yarat\u0131yor.<\/p>\n Bu, preferred stock i\u00e7in m\u00fczakere edilen fiyatt\u0131r ve neredeyse her zaman 409A’n\u0131n belirgin bi\u00e7imde \u00fczerindedir. Aradaki fark, imtiyazl\u0131 hissenin ta\u015f\u0131d\u0131\u011f\u0131 haklardan gelir: likidasyon \u00f6nceli\u011fi, anti-dilution, kurul koltu\u011fu. Yat\u0131r\u0131mc\u0131 10 milyon dolar post-money de\u011ferleme \u00fczerinden yat\u0131r\u0131m yapt\u0131 diye \u00e7al\u0131\u015fan\u0131n\u0131z\u0131n opsiyon fiyat\u0131 da o seviyeye \u00e7\u0131kmaz.<\/p>\n Erken a\u015famada de\u011ferleme b\u00fcy\u00fck \u00f6l\u00e7\u00fcde pazarl\u0131kt\u0131r, ama pazarl\u0131\u011f\u0131n da bir dayana\u011f\u0131 olmas\u0131 gerekir. Yat\u0131r\u0131mc\u0131 size \u201cbu rakama nas\u0131l ula\u015ft\u0131n\u0131z?\u201d diye sordu\u011funda, benzer turlar\u0131n \u00e7arpanlar\u0131na, mevcut gelir tekrar\u0131n\u0131za veya kullan\u0131c\u0131 b\u00fcy\u00fcme h\u0131z\u0131n\u0131za dayanan bir cevab\u0131n\u0131z olsun. \u201cBu kadar hisse vermek istemiyoruz\u201d bir gerek\u00e7e de\u011fil.<\/p>\n Section 1202 kapsam\u0131ndaki nitelikli k\u00fc\u00e7\u00fck i\u015fletme hissesi (QSBS), ABD’de C-Corp kurman\u0131n en g\u00fc\u00e7l\u00fc gerek\u00e7elerinden biri. One Big Beautiful Bill Act ile kurallar 4 Temmuz 2025’ten sonra ihra\u00e7 edilen hisseler i\u00e7in geni\u015fledi:<\/p>\n Elde tutma s\u00fcresi<\/strong><\/p>\n<\/td>\n Kazan\u00e7 istisnas\u0131<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/thead>\n\n En az 3 y\u0131l<\/p>\n<\/td>\n %50<\/p>\n<\/td>\n<\/tr>\n En az 4 y\u0131l<\/p>\n<\/td>\n %75<\/p>\n<\/td>\n<\/tr>\n 5 y\u0131l ve \u00fczeri<\/p>\n<\/td>\n %100<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Ki\u015fi ba\u015f\u0131 ihra\u00e7\u00e7\u0131 baz\u0131nda istisna tavan\u0131 10 milyon dolardan 15 milyon dolara, \u015firketin br\u00fct varl\u0131k e\u015fi\u011fi ise 50 milyon dolardan 75 milyon dolara \u00e7\u0131kt\u0131. \u0130kisi de 2027’den itibaren enflasyona endeksleniyor. Eski kurallar (yaln\u0131zca 5 y\u0131l, %100, 10 milyon dolar tavan) 4 Temmuz 2025 ve \u00f6ncesinde ihra\u00e7 edilen hisseler i\u00e7in ge\u00e7erlili\u011fini koruyor.<\/p>\n Bunun cap table’la do\u011frudan ilgisi var: hisselerin ne zaman ve hangi yap\u0131da ihra\u00e7 edildi\u011fi, y\u0131llar sonra \u00e7\u0131k\u0131\u015fta \u00f6denecek vergiyi belirliyor. Kay\u0131tlar\u0131n\u0131z d\u00fczg\u00fcn de\u011filse istisnay\u0131 kan\u0131tlayamazs\u0131n\u0131z.<\/p>\n \n Term sheet imzaland\u0131ktan sonra genellikle 30\u201360 g\u00fcnl\u00fck bir diligence penceresi a\u00e7\u0131l\u0131r. Bu s\u00fcrede istenen belgelerin \u00e7o\u011fu, asl\u0131nda \u015firket kuruldu\u011fu g\u00fcn haz\u0131rlanm\u0131\u015f olmas\u0131 gereken belgeler. A\u015fa\u011f\u0131daki listeyi bir klas\u00f6r yap\u0131s\u0131 olarak kurun ve her ay g\u00fcncelleyin.<\/p>\n Klas\u00f6r<\/strong><\/p>\n<\/td>\n \u0130\u00e7erik<\/strong><\/p>\n<\/td>\n Neden soruluyor<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/thead>\n\n 01 \u2014 Kurulu\u015f<\/p>\n<\/td>\n Certificate of Incorporation ve t\u00fcm de\u011fi\u015fiklikleri, bylaws, EIN mektubu, good standing belgesi<\/p>\n<\/td>\n \u015eirketin hukuken var oldu\u011funu ve iyi durumda oldu\u011funu do\u011frulamak<\/p>\n<\/td>\n<\/tr>\n 02 \u2014 Sermaye yap\u0131s\u0131<\/p>\n<\/td>\n Cap table, hisse senedi defteri, stock purchase agreement’lar, 83(b) bildirim kopyalar\u0131<\/p>\n<\/td>\n Kimin neye sahip oldu\u011funu kesinle\u015ftirmek<\/p>\n<\/td>\n<\/tr>\n 03 \u2014 D\u00f6n\u00fc\u015febilir enstr\u00fcmanlar<\/p>\n<\/td>\n SAFE ve convertible note metinleri, d\u00f6n\u00fc\u015f\u00fcm hesap tablosu<\/p>\n<\/td>\n Turdan sonraki ger\u00e7ek seyrelmeyi g\u00f6rmek<\/p>\n<\/td>\n<\/tr>\n 04 \u2014 Opsiyon plan\u0131<\/p>\n<\/td>\n Equity incentive plan, opsiyon s\u00f6zle\u015fmeleri, 409A raporlar\u0131<\/p>\n<\/td>\n Havuzun b\u00fcy\u00fckl\u00fc\u011f\u00fc ve fiyatlaman\u0131n uyumu<\/p>\n<\/td>\n<\/tr>\n 05 \u2014 Finansallar<\/p>\n<\/td>\n Son 2\u20133 y\u0131l mali tablolar, ayl\u0131k P&L, nakit ak\u0131\u015f\u0131, banka ekstreleri<\/p>\n<\/td>\n Rakamlar\u0131n defterle tuttu\u011funu g\u00f6rmek<\/p>\n<\/td>\n<\/tr>\n 06 \u2014 Vergi<\/p>\n<\/td>\n Federal ve eyalet beyannameleri, sales tax kay\u0131tlar\u0131, varsa 5472 \/ 1120 dosyalar\u0131<\/p>\n<\/td>\n A\u00e7\u0131k kalm\u0131\u015f bir y\u00fck\u00fcml\u00fcl\u00fck var m\u0131<\/p>\n<\/td>\n<\/tr>\n 07 \u2014 S\u00f6zle\u015fmeler<\/p>\n<\/td>\n M\u00fc\u015fteri ve tedarik\u00e7i s\u00f6zle\u015fmeleri, kira, lisanslar<\/p>\n<\/td>\n Gelirin s\u00fcrd\u00fcr\u00fclebilirli\u011fi ve kontrol de\u011fi\u015fikli\u011fi maddeleri<\/p>\n<\/td>\n<\/tr>\n 08 \u2014 Ekip<\/p>\n<\/td>\n \u0130\u015f s\u00f6zle\u015fmeleri, dan\u0131\u015fman s\u00f6zle\u015fmeleri, gizlilik ve fikri m\u00fclkiyet devir belgeleri<\/p>\n<\/td>\n Kodu yazan ki\u015fi haklar\u0131n\u0131 \u015firkete devretmi\u015f mi<\/p>\n<\/td>\n<\/tr>\n 09 \u2014 Fikri m\u00fclkiyet<\/p>\n<\/td>\n Marka ve patent ba\u015fvurular\u0131, alan adlar\u0131, a\u00e7\u0131k kaynak envanteri<\/p>\n<\/td>\n \u00dcr\u00fcn\u00fcn kime ait oldu\u011fu<\/p>\n<\/td>\n<\/tr>\n 10 \u2014 Hukuki<\/p>\n<\/td>\n Devam eden veya kapanm\u0131\u015f uyu\u015fmazl\u0131klar, uyar\u0131 mektuplar\u0131<\/p>\n<\/td>\n Gizli risk taramas\u0131<\/p>\n<\/td>\n<\/tr>\n 11 \u2014 Sigorta<\/p>\n<\/td>\n Poli\u00e7eler, \u00f6zellikle D&O ve genel sorumluluk<\/p>\n<\/td>\n Yat\u0131r\u0131mc\u0131 kurul koltu\u011fu alacaksa \u015fart<\/p>\n<\/td>\n<\/tr>\n 12 \u2014 Uluslararas\u0131<\/p>\n<\/td>\n T\u00fcrkiye veya ba\u015fka \u00fclkelerdeki i\u015ftirakler, hizmet s\u00f6zle\u015fmeleri, transfer fiyatland\u0131rmas\u0131 dok\u00fcmantasyonu<\/p>\n<\/td>\n S\u0131n\u0131r \u00f6tesi yap\u0131n\u0131n vergi riski<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Dosyay\u0131 toplamaya diligence ba\u015flay\u0131nca de\u011fil, ilk yat\u0131r\u0131mc\u0131 g\u00f6r\u00fc\u015fmesinden aylar \u00f6nce ba\u015flay\u0131n. Eksik belgeleri tamamlamak zaman al\u0131r; good standing belgesi almak i\u00e7in \u00f6nce ge\u00e7mi\u015f franchise tax borcunu kapatmak gerekebilir, bir marka ba\u015fvurusu aylar s\u00fcrer.<\/p>\n \n ABD merkezli bir yat\u0131r\u0131mc\u0131yla \u00e7al\u0131\u015f\u0131rken T\u00fcrkiye ba\u011flant\u0131s\u0131 olan bir yap\u0131n\u0131n kendine \u00f6zg\u00fc sorular\u0131 oluyor. En s\u0131k g\u00fcndeme gelen d\u00f6rd\u00fc:<\/p>\n T\u00fcrkiye’deki \u015firketi ABD’deki Delaware C-Corp’un alt\u0131na almak (flip-up), yat\u0131r\u0131m alman\u0131n standart yolu. Ama hisse devrinin her iki tarafta da do\u011fru belgelendi\u011fi, T\u00fcrkiye’deki pay defterinin g\u00fcncellendi\u011fi ve de\u011ferlemenin iki tarafta tutarl\u0131 oldu\u011fu g\u00f6r\u00fclmek istenir. Yar\u0131m kalm\u0131\u015f bir flip-up, diligence’ta en pahal\u0131 bulgudur.<\/p>\n Geli\u015ftirme ekibi T\u00fcrkiye’deyse, ABD \u015firketiyle aralar\u0131ndaki ili\u015fki bir hizmet s\u00f6zle\u015fmesine ba\u011flanm\u0131\u015f olmal\u0131 ve fiyatland\u0131rma emsallere uygun olmal\u0131. Grup i\u00e7i hizmet bedelinin geli\u015fig\u00fczel belirlendi\u011fi yap\u0131larda hem IRS hem T\u00fcrkiye taraf\u0131 sonradan sorun \u00e7\u0131karabiliyor. Transfer fiyatland\u0131rmas\u0131 dok\u00fcmantasyonu, \u015firket k\u00fc\u00e7\u00fckken haz\u0131rlan\u0131rsa ucuz ve h\u0131zl\u0131d\u0131r.<\/p>\n Kodu T\u00fcrkiye’deki bir \u015firket veya serbest \u00e7al\u0131\u015fan yazd\u0131ysa, \u00fcr\u00fcn\u00fcn haklar\u0131 otomatik olarak ABD \u015firketine ge\u00e7mez. Yaz\u0131l\u0131 bir devir s\u00f6zle\u015fmesi olmadan yat\u0131r\u0131mc\u0131 kapan\u0131\u015fa gitmez. Bu, geriye d\u00f6n\u00fck d\u00fczeltilebilen ama zaman alan bir konudur.<\/p>\n ABD’de hisse sahibi olan yabanc\u0131 kurucular\u0131n ITIN’i, \u015firketin EIN’i ve gerekiyorsa W-8BEN formlar\u0131 tamam olmal\u0131. Kapan\u0131\u015f g\u00fcn\u00fc eksik bir vergi kimli\u011fi y\u00fcz\u00fcnden \u00f6demenin gecikmesi, sand\u0131\u011f\u0131n\u0131zdan daha s\u0131k ya\u015fan\u0131yor.<\/p>\n \n D\u00f6nem<\/strong><\/p>\n<\/td>\n Yap\u0131lacak<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/thead>\n\n 1.\u201330. g\u00fcn<\/p>\n<\/td>\n Cap table’\u0131 s\u0131f\u0131rdan do\u011frulay\u0131n. Her hissedar\u0131n imzal\u0131 belgesini bulun. SAFE’leri listeleyin ve d\u00f6n\u00fc\u015f\u00fcm senaryosunu \u00e7\u0131kar\u0131n. 83(b) bildirimlerini kontrol edin.<\/p>\n<\/td>\n<\/tr>\n 31.\u201360. g\u00fcn<\/p>\n<\/td>\n 409A de\u011ferlemesini yenileyin veya ilk kez yapt\u0131r\u0131n. Son iki y\u0131l\u0131n mali tablolar\u0131n\u0131 kapat\u0131n. Vergi beyannamelerindeki a\u00e7\u0131klar\u0131 tespit edin.<\/p>\n<\/td>\n<\/tr>\n 61.\u201390. g\u00fcn<\/p>\n<\/td>\n Data room klas\u00f6r\u00fcn\u00fc kurun ve 12 ba\u015fl\u0131\u011f\u0131 doldurun. Fikri m\u00fclkiyet devir s\u00f6zle\u015fmelerini imzalat\u0131n. Good standing belgesini al\u0131n.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Bu \u00fc\u00e7 ay, yat\u0131r\u0131mc\u0131 g\u00f6r\u00fc\u015fmeleri ba\u015flamadan \u00f6nce tamamland\u0131\u011f\u0131nda m\u00fczakerede elinizi belirgin \u015fekilde g\u00fc\u00e7lendiriyor. Sorulan her belgeye ayn\u0131 g\u00fcn cevap verebilen bir \u015firket, yat\u0131r\u0131mc\u0131 g\u00f6z\u00fcnde farkl\u0131 bir kategoride duruyor.<\/p>\n \n Erken a\u015famada iyi d\u00fczenlenmi\u015f bir tablo yeterli olabilir, ancak SAFE say\u0131s\u0131 ikiyi ge\u00e7ti\u011finde veya opsiyon da\u011f\u0131tmaya ba\u015flad\u0131\u011f\u0131n\u0131zda \u00f6zel bir yaz\u0131l\u0131ma ge\u00e7mek mant\u0131kl\u0131. As\u0131l mesele ara\u00e7 de\u011fil, tablonun arkas\u0131ndaki imzal\u0131 belgelerin eksiksiz olmas\u0131.<\/p>\n Teknik olarak m\u00fcmk\u00fcn, pratikte tavsiye edilmez. Ba\u011f\u0131ms\u0131z bir uzman taraf\u0131ndan yap\u0131lan de\u011ferleme, IRS kar\u015f\u0131s\u0131nda \u201csafe harbor\u201d korumas\u0131 sa\u011fl\u0131yor. Kendi haz\u0131rlad\u0131\u011f\u0131n\u0131z bir de\u011ferlemede ispat y\u00fck\u00fc sizde kal\u0131r.<\/p>\n Kurumsal yat\u0131r\u0131mc\u0131lar\u0131n b\u00fcy\u00fck \u00e7o\u011funlu\u011fu Delaware C-Corp’a yat\u0131r\u0131m yapar. LLC yap\u0131s\u0131ndaysan\u0131z ve kurumsal yat\u0131r\u0131m hedefliyorsan\u0131z d\u00f6n\u00fc\u015f\u00fcm\u00fc tur ba\u015flamadan \u00f6nce tamamlamak, hem zaman hem vergi a\u00e7\u0131s\u0131ndan daha iyi sonu\u00e7 veriyor.<\/p>\n Tohum turlar\u0131nda 2\u20134 hafta, Seri A’da 4\u20138 hafta tipik. S\u00fcreyi uzatan neredeyse her zaman eksik belge oluyor, karma\u015f\u0131k i\u015f modeli de\u011fil.<\/p>\n \n Yat\u0131r\u0131m s\u00fcreci bir s\u0131nav de\u011fil ama haz\u0131rl\u0131ks\u0131z girildi\u011finde \u00f6yle hissettiriyor. Cap table’\u0131n\u0131z\u0131, de\u011ferlemenizi ve diligence dosyan\u0131z\u0131 bug\u00fcnden d\u00fczene sokmak, ilerideki m\u00fczakerenin \u015fartlar\u0131n\u0131 bug\u00fcnden belirlemek demek.<\/em><\/p>\n Manay CPA olarak ABD’de yat\u0131r\u0131m turuna haz\u0131rlanan T\u00fcrk giri\u015fimlerle \u00e7al\u0131\u015f\u0131yoruz: sermaye yap\u0131s\u0131n\u0131n do\u011frulanmas\u0131, mali tablolar\u0131n kapat\u0131lmas\u0131, vergi uyumunun temizlenmesi ve data room’un kurulmas\u0131. S\u00fcreci konu\u015fmak isterseniz \u00fccretsiz dan\u0131\u015fmanl\u0131k g\u00f6r\u00fc\u015fmesi i\u00e7in bize ula\u015fabilirsiniz.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Yat\u0131r\u0131m \u00d6ncesi Finansal Haz\u0131rl\u0131k: Cap Table, De\u011ferleme ve Due Diligence Yat\u0131r\u0131mc\u0131yla ilk toplant\u0131 iyi ge\u00e7er. \u0130kincisi de. Sonra bir e-posta gelir: \u201cData room linkini payla\u015fabilir misiniz?\u201d \u0130\u015fte kurucular\u0131n \u00e7o\u011fu tam burada t\u00f6kezliyor. T\u00fcrkiye’den ABD’ye a\u00e7\u0131lan giri\u015fimlerde defalarca ayn\u0131 tabloyu g\u00f6r\u00fcyoruz. \u00dcr\u00fcn haz\u0131r, ekip haz\u0131r, hatta gelir bile var. Ama sermaye yap\u0131s\u0131 bir Excel dosyas\u0131nda, iki […]<\/p>\n","protected":false},"author":2,"featured_media":83020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[100],"tags":[],"class_list":["post-83019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/posts\/83019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/comments?post=83019"}],"version-history":[{"count":1,"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/posts\/83019\/revisions"}],"predecessor-version":[{"id":83021,"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/posts\/83019\/revisions\/83021"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/media\/83020"}],"wp:attachment":[{"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/media?parent=83019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/categories?post=83019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.manaycpa.com\/tr\/wp-json\/wp\/v2\/tags?post=83019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |