WeWork’s IPO and the power of preference shares

Much the chatter surrounding the IPO of the We Company (aka WeWork) relates to the eye-watering valuation being sought. Yet recently there’s speculation that the IPO may end up closer to $20 billion, as opposed to the the $47 billion valuation SoftBank offered...

How to assess a potential investor

A founder can change every aspect of their business except their shareholders. Anyone who has had a difficult shareholder knows the real truth in this statement. So founders should be equally thorough in diligencing their potential investor as their investor is with...

When SAFES aren’t all that safe

In late 2013 Y Combinator released its innovative Simple Agreement for Future Equity (SAFE) investment instrument. The purpose of the SAFE was to allow pricing to be deferred in an early investment round, as early stage companies are somewhat difficult to value. YC...

Your ESOP plan requires wise management and clear thinking

Your ESOP plan requires wise management and clear thinking. An important consideration is how much ESOP to allocate to new staff. Fred Wilson from Union Square Ventures covered this in his classic 2010 post (https://lnkd.in/ds-fHYH). As he explains it, the golden rule...