L2B
Look to book – a ratio of reservations obtained from an online distribution channel out of the total visitors to such channel (also known as the conversion rate). ...
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Lead Investor
An investor who invests the most on a fundraising and who will often represent the interests of all investors, perhaps agreeing to sit on the board as an Investor Director. The Lead Investor will often negotiation the Valuation&n...
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Letter of Intent
See Term Sheet. ...
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Licence Fee
A fee charged by a hotel chain for the use of its brand name. Also called a Royalty Fee. ...
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Lock-up Period
The period an investor or Founder must wait before being able to sell or trade a company’s shares following an IPO. ...
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Liquidation Preference
A right attached to Preferred Shares which entitles the holder (usually a VC or another early stage investor) to get its investment back first on a sale of the business or other Exit Event. The balance of the sale ...
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Liquidity Event
See Exit Event. ...
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Loyalty programme
A programme rewarding frequent travellers with points for free stays or other gifts. ...
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LTC
Loan to Cost – a measure of leverage, usually used in the development phase. ...
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LTV
Loan to Value – a measure of leverage, usually used on the operating phase. ...
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