<?xml version="1.0" encoding="UTF-8"?>
<urlset xmlns="http://www.sitemaps.org/schemas/sitemap/0.9">
  <url>
    <loc>https://www.waterfalls.app</loc>
    <changefreq>weekly</changefreq>
    <priority>1.0</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn</loc>
    <changefreq>daily</changefreq>
    <priority>0.9</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/join-beta</loc>
    <changefreq>weekly</changefreq>
    <priority>0.9</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/contact</loc>
    <changefreq>monthly</changefreq>
    <priority>0.7</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/maturity-date-definition-financial-applications</loc>
    <lastmod>2025-10-01</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/strike-price-finance-definition-examples</loc>
    <lastmod>2025-10-02</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/stock-options-definition-types-explained</loc>
    <lastmod>2025-10-03</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/common-stock-definition-shareholder-rights</loc>
    <lastmod>2025-10-04</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/preferred-stock-definition-investment-characteristics</loc>
    <lastmod>2025-10-05</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/carried-interest-loophole-tax-treatment-controversy</loc>
    <lastmod>2025-10-06</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/stock-options-explained-types-trading-fundamentals</loc>
    <lastmod>2025-10-07</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/preferred-stock-vs-common-stock-differences</loc>
    <lastmod>2025-10-08</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/carve-out-definition-business-applications</loc>
    <lastmod>2025-10-09</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/carried-interest-definition-private-equity</loc>
    <lastmod>2025-10-10</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/vesting-definition-schedule-types-employee-benefits</loc>
    <lastmod>2025-10-11</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/qualified-small-business-stock-definition-tax-benefits</loc>
    <lastmod>2025-10-12</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/qsbs-exemption-tax-benefits-qualification</loc>
    <lastmod>2025-10-13</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/restricted-stock-units-rsus-definition-how-they-work</loc>
    <lastmod>2025-10-14</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/waterfall-chart-excel-step-by-step-creation</loc>
    <lastmod>2025-10-15</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/convertible-note-definition-startup-funding</loc>
    <lastmod>2025-10-16</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/incentive-stock-options-iso-tax-benefits-rules</loc>
    <lastmod>2025-10-17</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/iso-vs-nso-tax-treatment-key-differences</loc>
    <lastmod>2025-10-18</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/rsu-vs-stock-options-key-differences-comparison</loc>
    <lastmod>2025-10-19</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/safe-agreement-simple-agreement-future-equity-explained</loc>
    <lastmod>2025-10-20</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/qsbs-requirements-complete-qualification-guide</loc>
    <lastmod>2025-10-21</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/participating-preferred-stock-definition-liquidation</loc>
    <lastmod>2025-10-22</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/liquidation-preference-rights-mechanics</loc>
    <lastmod>2025-10-23</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/stock-warrants-definition-how-they-work</loc>
    <lastmod>2025-10-24</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/non-qualified-stock-options-definition-tax-treatment</loc>
    <lastmod>2025-10-25</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/simple-agreement-future-equity-definition-structure</loc>
    <lastmod>2025-10-26</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/cliff-vesting-definition-schedule-mechanics</loc>
    <lastmod>2025-10-27</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/convertible-preferred-stock-features-rights</loc>
    <lastmod>2025-10-28</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/cumulative-preferred-stock-dividend-rights-features</loc>
    <lastmod>2025-10-29</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/warrants-vs-options-key-differences</loc>
    <lastmod>2025-10-30</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/safe-note-definition-startup-investment</loc>
    <lastmod>2025-10-31</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/rsu-taxation-how-restricted-stock-units-are-taxed</loc>
    <lastmod>2025-11-01</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/409a-valuation-startup-definition-process</loc>
    <lastmod>2025-11-02</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/conversion-ratio-definition-calculation-methods</loc>
    <lastmod>2025-11-03</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/double-trigger-acceleration-vesting-requirements</loc>
    <lastmod>2025-11-04</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/qsbs-qualified-small-business-stock-tax-benefits</loc>
    <lastmod>2025-11-05</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/price-per-share-formula-calculation-methods</loc>
    <lastmod>2025-11-06</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/option-strike-price-definition-role-options-trading</loc>
    <lastmod>2025-11-07</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/rsu-vesting-schedule-how-restricted-stock-units-vest</loc>
    <lastmod>2025-11-08</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/penny-warrants-definition-use-corporate-finance</loc>
    <lastmod>2025-11-09</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/section-1202-stock-tax-benefits-small-business-investors</loc>
    <lastmod>2025-11-10</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/cashless-exercise-stock-option-transaction-methods</loc>
    <lastmod>2025-11-12</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/dividends-in-arrears-definition-calculation</loc>
    <lastmod>2025-11-14</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/safe-vs-convertible-note-key-differences-applications</loc>
    <lastmod>2025-11-16</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/how-stock-options-work-mechanism-benefits</loc>
    <lastmod>2025-11-18</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/preferred-stock-dividends-types-payment-mechanics</loc>
    <lastmod>2025-11-20</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/exercise-price-vs-strike-price-definition-usage</loc>
    <lastmod>2025-11-22</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/management-incentive-plan-structure-components</loc>
    <lastmod>2025-11-24</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/rofr-vs-rofo-right-first-refusal-vs-right-first-offer</loc>
    <lastmod>2025-11-26</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/leveraged-buyout-model-structure-analysis</loc>
    <lastmod>2025-11-28</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/uncapped-safe-definition-how-it-works</loc>
    <lastmod>2025-11-30</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/class-a-vs-class-b-shares-structure-differences</loc>
    <lastmod>2025-12-02</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/409a-valuation-definition-process-startups</loc>
    <lastmod>2025-12-04</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/forced-conversion-definition-corporate-applications</loc>
    <lastmod>2025-12-06</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/european-vs-american-waterfall-distribution-models</loc>
    <lastmod>2025-12-08</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/full-ratchet-anti-dilution-protection-mechanics</loc>
    <lastmod>2025-12-10</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/multiple-on-invested-capital-moic-definition-formula</loc>
    <lastmod>2025-12-12</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/post-money-safe-definition-investor-dilution-protection</loc>
    <lastmod>2025-12-14</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/equity-management-platform-features-selection</loc>
    <lastmod>2025-12-16</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/qsbs-stacking-maximizing-tax-benefits</loc>
    <lastmod>2025-12-18</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/qsbs-eligibility-requirements-criteria</loc>
    <lastmod>2025-12-20</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/pro-rata-distribution-definition-applications</loc>
    <lastmod>2025-12-22</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/safe-valuation-cap-definition-impact-conversion</loc>
    <lastmod>2025-12-24</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/convertible-note-template-structure-key-terms</loc>
    <lastmod>2025-12-26</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/preferred-stock-voting-rights-structure-limitations</loc>
    <lastmod>2025-12-28</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/redeemable-preferred-stock-definition-features</loc>
    <lastmod>2025-12-30</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/rofr-right-first-refusal-definition-applications</loc>
    <lastmod>2026-01-01</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/graded-vesting-definition-schedule-types</loc>
    <lastmod>2026-01-03</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/accelerated-vesting-definition-trigger-events</loc>
    <lastmod>2026-01-05</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/financial-modeling-for-startups-structure-methods</loc>
    <lastmod>2026-01-07</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/qsbs-holding-period-five-year-requirement</loc>
    <lastmod>2026-01-09</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/warrant-coverage-definition-calculation</loc>
    <lastmod>2026-01-11</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/83b-election-tax-benefits-filing-requirements</loc>
    <lastmod>2026-01-13</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/reverse-vesting-definition-startup-applications</loc>
    <lastmod>2026-01-15</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/startup-valuation-methods-approaches-applications</loc>
    <lastmod>2026-01-17</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/carried-interest-calculation-formula-methods</loc>
    <lastmod>2026-01-19</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/early-exercise-stock-options-process-benefits</loc>
    <lastmod>2026-01-21</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/cap-table-modeling-structure-calculations</loc>
    <lastmod>2026-01-23</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/stock-option-exercise-process-tax-implications</loc>
    <lastmod>2026-01-25</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/startup-financial-planning-framework-best-practices</loc>
    <lastmod>2026-01-27</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
  <url>
    <loc>https://www.waterfalls.app/learn/conversion-price-formula-calculation-components</loc>
    <lastmod>2026-01-29</lastmod>
    <changefreq>monthly</changefreq>
    <priority>0.8</priority>
  </url>
</urlset>