At Founders Workbench, we try to provide regular updates of important business news, notable court decisions and other legal developments that may impact startup founders. When we see a true success story – particularly one supported by members of the broader Goodwin Procter team – we make sure to flag the key details for our clients and friends in the startup community.
When Box, Inc. completed its initial public offering (IPO) last month, Goodwin Procter attorneys represented the underwriters in advising on the offering of 14.375 million shares of Class A common stock.
The IPO represents the most significant inflection point yet for the 10-year-old company, which began trading on the New York Stock Exchange on January 23 under the symbol BOX.
Same-Day Alcohol Delivery Apps Navigate Local Laws
Ordering dinner from your iPhone tonight? Might as well add drinks to your shopping cart. New smartphone apps such as Thirstie, based in New York, and Drizly, based in Boston, have navigated local liquor laws to provide same-day alcohol delivery service. The delivery apps form partnerships with local liquor stores, allowing customers to shop and pay online. The delivery driver checks for identification, and the start-ups are able to comply with state liquor laws by operating as third-party marketing businesses.
Read more from “Same-Day Delivery Resurges, Adding Alcohol” (The New York Times).
Welcome back to Founders University, our core curriculum designed to provide startup company founders with the basics they’ll need to launch their company while minimizing costly missteps or mistakes.
For our third session of Founders University, we share an overview of creating governance and formation documents with Document Driver, by partner Dave Cappillo. In this course, Dave points to the Founders Workbench Document Driver tool as a key resource for answering startup-related questions and producing key governance and formation documents.
Ready, Set, Learn!
Some highlights from this week’s articles:
“Innovation is often the product of mistakes made, of caution thrown to the wind. And yet, the ability to be disruptive while also quietly meticulous might just be the difference between a bubble-fueled fad and a business built to last.” – Warby Parker Sees The Future of Retail, Max Chafkin, Fast Company
“It’s important that businesses actively discuss a leadership transition with their employees, vendors and clients—and explain what it will mean for them.” – How to Replace a Wildly Popular Leader, Kelly Spors, Open Forum
“The campaigns that both Twitter and Facebook ran during the World Cup last year as evidence that there’s plenty of potential for app adoption in Latin America.” – More than half of all smartphone users in Latin America use Twitter, study claims, Ruth Reader, Venture Beat
Founders Workbench actively supports both the national and the local startup scene, and we’re always looking for ways to connect founders with talented young professionals that might join and contribute to their growing business ventures.
That’s why we’re helping promote the BU Startup Career Fair. Arranged by the Boston University Electrical and Computer Engineering program, the BU Startup Career Fair is a one-day event connecting founders with students interested in either full-time positions or internships with a startup company.
Startup Trends in 2015
Venture capital firm Andreessen Horowitz, which has invested in some of today’s most talked-about startups, shares its predictions for the startup community in the year ahead. Several trends that were already on our radar in 2014, including security, digital health, online market places, crowdfunding and bitcoin, are expected to continue shaping the industry, along with newer concepts like virtual reality, the full-stack startup, containers and DevOps.
Read more from “16 Startup Trends That Will Be Huge In 2015” (Business Insider).
Many entrepreneurs have at least a topical grasp of the world of investors and capital finance. Much of this understanding, however, typically centers around more conventional financial investors such as high net worth individuals, angel investors, venture capitalists or private equity funds. Founders of healthcare startups often encounter strategic investments that require interaction with a very different entity: the “Corporate Venture Capital” investor.
Corporate VC investors are typically large publicly-traded or privately-held companies that either operate directly within the startup’s particular industry or consider the startup (or its technology) to be of unique strategic importance.