StartupTalk #33: Shareholders' Agreements 101 - Slides by Thomas Sehested

1. The Shareholder Agreement
Do’s, Don’ts and all the Fuck Ups
The Founder Perspective
Do

2. The Founder Perspective
The Early Days
01
Your First VC money
02
The Exit
03

3. 01
● Easier when no money involved
● Spend the cash - Get a good startup lawyer
Get the paperwork done early
● Never done an exit without SHA issues
● A bad SHA can kill a company or a fund raise
Founders go to court – not companies
Watch out for
Friends and
Family

4. The First Real
VC Money...
• Once you take the money you can never go back!
• Nothing is “Market Terms”
• Valuation isn’t everyting - Check the numbers

5. The Exit
Greed and a bad SHA can cost a lot of money...
How a few “friends” blocked an IPO

6. Thank you for
your time
Thomas Sehested
Presenter
linkedin.com/in/thomassehested/
LinkedIn
thomas@sehested.com
Email