Twitter investors talk about how entrepreneurs at different stages of the formation of the board of

Twitter has filed a listing document, the final IPO is expected to be carried out by the end of this year or early next year. Twitter founded six years, during which there are many toss. Tiger sniffing was last year’s history of the company’s toss comb. An interesting phenomenon is that this is a property when it listed, the three founders have left, entirely by investors and managers to control the company, usually start-up companies such as the probability of failure is very high, but Twitter is successfully became a public company.

currently CEO Dick · Costolo (Dick) in the initial investment of $25 thousand into the Twitter, the initial investment is now worth more than $seems to be $10 million. He is a typical example of angel investors turned CEO. A few other "loyal" VC will also make a lot of money. According to the "New York Times" of financial document analysis and insider interviews, venture capitalists Chris · (Chris Sacca), Saka; and at least two other joint venture capital company (Union Square Capital) investment Plaza and Spark Capital, each holding value will exceed $1 billion.

Union Square Capital Fred Wilson is a partner of surgeon Twitter investor, had served as a director of Twitter. In an article last year, he took Twitter as an example, talking about how companies should set up a board of directors at different stages. Perhaps, it is always a fairly appropriate board, to ensure near misses have left Twitter, in the CEO founders change change.

tiger sniffing last year had translated the article to the effect, now re read it:

any company, of course, need the board, the beginning of the board may be the founder of a person, but it will not last too long.

if a company was in the early days, I was a champion of the three board. I usually suggest that the founders should be with the other two directors he trusts and respects. When investors come in, this situation will change. If the founder remains in control, the situation will not change too much, the founder can still nominate and select directors. Of course, in some cases, investors will negotiate with the founder on the issue of board seats. In this case, there is little angel investors, and in the venture capital that is more.


to an investor director does not mean that the founder will lose control, it can still maintain the three board structure, the founding director of the two, an investor director. Or, the board can be extended to five people, investors occupy one or two seats, the founder of the remaining seats.

when a company is controlled by the founder

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