Naval is in an amazing position traction-wise though, so it'll be interesting to see how things shake out. I'm pretty confident that either way, entrepreneurs and investors will both be winners.
Want to grab a beer tonight?
The docs make it pretty much a tabular affair. Choose the cap, the money, the discount, acquisition multiples, etc and you are done.
This makes for easy work, both with your lawyer and the investors.
I think we were among companies to do the AngelList Docs online. Can answer related questions.
Of course, if the documents are in a relatively agreed form and are not generally negotiated, it makes me wonder why a law firm needs to be involved at all (speaking as a lawyer). Perhaps this is where Clerky comes in...
I also wonder if the free provision of legal services for the financing is conditional on the company spending fees with WSGR on related agreements? I'm sure there'll be a fair amount of pressure from WSGR for the start-up to use WSGR's paid services.
Congrats Naval + Nivi.