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Founders Series: C-Corp Checklist

 

In our most recent “Founders Series” post, we discussed what tax considerations founders should take into account when launching their startups. We now turn to the steps you will need to take once you are ready to officially form your corporation. Note that many of these tasks can be facilitated by using our online legal document generation tool, Document Driver®.

Founders Flash: Uber-rich! $50B Valuation for World’s Most Highly Capitalized Startup

 

Uber Technologies, the SF-based ride-sharing company, is looking to raise between $1.5B and $2 billion in new funding. What’s the company valuation for that ambitious funding, you ask? Try $50 B-,B-,B- Billion … that’s a lot of unicorns…What will Uber do with all that money? Poach talent, for starters: Google’s PR chief received an offer she couldn’t refuse.

 

The Flash also kicks back with some longer reads, checking out The New Yorker profile of Silicon Valley giant Marc Andreessen and the California Sunday look at the slew of high school entrepreneurs/dropouts descending on San Francisco.

 

Check out these stories and more in The Flash!

 

Cloud Computing: Scalability

 

In the latest post in our series examining cloud computing, we identified the factors that might motivate a company founder to use cloud computing. Let’s take a closer look at one of those motivations – scalability.

 

Our original quick look at scalability focused on the ways that cloud computing helps startups manage shifting computing requirements by providing greater flexibility in the computing services they purchase. A cloud-based IT infrastructure is more versatile – notably in terms of scalability – than is local, intranet-based infrastructure.

Founders Flash: Winklevii, Meerkat ‘Kill Call’ Memories Highlight Disrupt NY 2015

 

Startup luminaries descended on Manhattan last week for the annual Disrupt NY hosted by Tech Crunch and followed closely by The Flash. Highlights include an “all-in” commitment to BitCoin by Tyler and Cameron Winklevoss, as well as recollections by Meerkat founder Ben Rubin on the call he received advising that Twitter was pulling the plug on access to his live streaming startup. We also took a special peek at student entrepreneurs, who are dashing to the end of their academic year while stoking their startup fires.

 

These and more in this week’s Flash!

 

 

Goodwin Procter Advises lynda.com in $1.5B Acquisition by LinkedIn

 

Founders Workbench loves a successful exit – especially when our Goodwin Procter colleagues are closely involved. Those factors came together recently when GP client lynda.com stole the business news headlines by announcing its $1.5 billion acquisition by online professional network giant LinkedIn.

 

This was a big deal within the startup community. Spending $1.5B to buy lynda.com – the career-skills educator website launched 20 years ago that has emerged as a leader in professional training videos – is a smart strategic move by LinkedIn as it marries content with user reach in continuing to build out the “economic graph” and signals a broader strategy by LinkedIn to make future company buys. Expect upcoming LinkedIn acquisitions to strengthen vertical segments like sales, as well as broader plays that may include job marketplaces.

The MIT FinTech Club Launches the Inaugural MIT FinTech Conference

 

The robust nature of Boston’s FinTech ecosystem was on display last Friday, May 1st, when the MIT FinTech Club held its inaugural FinTech Conference – the first student run FinTech conference in the country.  With high profile and engaging speakers, a startup showcase and over 200 registered attendees, the daylong event was a huge success. Goodwin Procter, along with The FinTech Sandbox, were proud sponsors of the event. 

Founders Flash: Shhhhhh! ‘Secret’ Social-Networking Service Goes from Anonymous to Defunct

 

A mere 10 months after raising $25 million from marquee investors – at a valuation of $100 million – the anonymous social-networking app ‘Secret’ shut down this week. You can bet the Flash took note of that precipitous shut-down. As always, we’re closely following crowdfunding news, but this cycle we’re seeing some backlash against the popular fundraising platform. The NY Times Magazine looks at jilted investors in the failed ZPM Espresso crowdfunding/KickStarter campaign (who are sharpening their knives), while Gizmodo is soliciting examples of fraudulent crowdfunding campaigns for a future compilation.

 

Check out these stories and more in this week’s Founders Flash!

 

  • How long does it take for a startup to go from $100 million to $0? If you are Secret, the anonymous social networking app, the answer is: 10 months. (Forbes)
  • What happens when a crowdfunding campaign fails to launch? If investors in the failed ZPM Espresso launch are any indication, they can get testy. (NY Times Magazine)
  • Crowdfunding is powerful and growing – but examples of fraud abound across the increasingly popular platform. Share any stories of fraudulent crowdfunding campaigns here. (Gizmodo)
  • Momofuku owner David Chang just launched Maple, a food-delivery startup looking to disrupt the food takeout industry. Will he do for food delivery what he did for ramen noodles? (Entrepreneur)
  • Gett looks to outpace Uber by offering services beyond transportation – including food, beauty and home maintenance. (TechCrunch)
  • VC firms looking for the next Facebook are recruiting ever-younger founders – beginning in college with mentoring and funding for startups with potential. (Wall Street Journal)

FinTech: Networking Events Highlight the FWB Calendar

 

The Founders Workbench team has been hard at work partnering with Goodwin Procter’s FinTech Practice to assist the next generation of innovative and disruptive FinTech start ups. 

 

The vibrancy of the burgeoning FinTech industry was on full display at two recent events we sponsored. Held in Boston and New York, these events gave members of the FinTech startup community a chance to network, socialize and listen in on insights from FinTech industry thought leaders.

Founders Flash: Box Developer Edition – Startups Now Have $40M Reasons to Give It a Try

 

Box leads The Flash this week, offering startups 40 million reasons to use Box Developer Edition, its file sharing and cloud management platform created in partnership with VC firms Bessemer and Emergence. The Flash has noted Box’s ability to garner consistently favorable business headlines since going public in March (Goodwin Procter represented the underwriter in the IPO). And SV BizJo takes a good look at the real story behind the recent funding boom: “private IPOs.” Also – Hola…what? Maybe it’s time for your company to go ‘Holacracy’…Read these and more in this week’s Founders Flash!

 

  • Box to startups: use Box Developer Edition and access a new $40M pool of money to get you started. (Mashable; VentureBeat)
  • Crowdfunding is making news, but startups and small businesses remain hesitant to embrace this new fundraising tool. (Forbes)
  • What’s the real story behind the recent startup funding boom? ‘Private IPOs’ by companies that get funding from mutual funds, hedge funds, private equity investors and even sovereign funds. (Silicon Valley Business Journal)
  • Looking for an alt-management structure for your biz? Try going ‘Holacracy’ – Tony Hsieh is giving it a go! (Fast Company)

Cloud Computing: Motivations

 

In the first post in our series examining issues relating to cloud computing, we looked at the concept of outsourcing significant aspects of a company’s technology infrastructure – an increasing reality for startups. Our latest post looks at what factors might motivate a company to utilize one of the numerous cloud-computing resources that are available