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Harley Finkelstein JD, MBA
Founder, SUPERANGELdotCACPO & General Counsel, SHOPIFY
Business Registration.
Credit: James Smith, 2008
Angels / VCs.
Credit: Conn. Technology Council, 2008
The Rise of the Superangel.(the real ones)
Valuations
(impromptu topic b/c it’s just so HOT right now)
FB: $75 B (83x) – Forced IPOTwitter: $10 B (>200x)
Groupon: $25 B (unknown)Zynga: $9 B (18x)
Billion dollar valuations for Twitter and Groupon “mathematically insane,” according to IAC
founder and chairman Barry Diller
USA Today: Private marketplaces, including SecondMarket and SharesPost, allow owners of shares of private companies such as Digg, Facebook, Zynga and Twitter to sell to high-net-worth individuals and institutions. Typically, the sellers are employees at these firms looking to cash in on shares they've received. And the buyers are sophisticated
investors who understand they could lose their entire investment. [early exits?]
NDAs and Non-Competes.
One way / Two-way
Canada; Non-Competes – enforceable
(Canada falls into the group of states that will Not Reform or Blue-Pencil Covenants)
The extent to which non-compete clauses are legally allowed varies per jurisdiction. Some jurisdictions, such as the state of California in the US, invalidate non-compete-clauses for all but equity stakeholders in businesses. [1]
The DNA of an Entrepreneur.
risk tolerance ambition
good to great / competitive advantagesimplicity
ideasexecution
Thx.
Facebook.com/HarleyFTwitter.com/HFizzle
