By Jesse Klein

Mind the gap

The commonly cited statistic that women make 7 cents for every dollar earned by a man feels antiquated and from a different time.

Employee Private Tender Offers: what information do companies need to disclose?

(Originally published for Founders Circle on January 8th, 2018) In order to conduct or facilitate a private tender offer, companies are often required to disclose confidential information they’re used to guarding closely. Because the potential sellers—usually employees—typically don’t have the same information as the buyer—usually a current institutional shareholder, a growth equity fund, or the…

A Brief History of Secondary Sales Stock Sales: from one-offs to employee tender offers

(Originally published for Founders Circle on February 20th, 2018)  In Silicon Valley, a tender offer that allows longtime employees at high-performing startups to get some liquidity is fast becoming an expected benefit. While secondary stock sales have always been possible, their popularity—and legitimacy—has soared in the past 10 years as successful companies put off IPOs in…