Oct
28
Path 101 hasn’t closed their first angel round yet and they’ve only just inc’d themselves, but they’re live-blogging every step of the way. They’re disclosing their product ideas, who’s angeling them (Fred Wilson) before he’s even invested, and how they got free office space from Return Path.
My guess is they’ll do a VC round because a VC is angeling them. It’s interesting watching someone else go through the early stage routine of setting up a Delaware corp, getting the checking account, getting stock certs, signing shareholder agreements, etc…etc. Sounds like they have a law firm to take care of all that for them. We’ve always done that stuff ourselves (and haven’t regretted it).
After running a job search engine for a few years I can’t say I’m jealous about the space they’re in. Recruitment is a tough business and many folks have tried and done, ahem, not-so-good. But when someone does get it right I’ll be happy because it’s a broken sector.
Good luck to Charlie and Alex!
