, Zenefits, CEO, David, ·, and Sax David Sacks announced the news in an e-mail to all staff on Thursday. He said he spent months negotiating with several major investors on how to reshape their relationships and adapt to the new Zenefits.
Sax also said that Zenefits recently provided all employees with two months’ severance pay, but only about 10% of the employees accepted the program. This means that after this project, Zenefits still has about 900 employees
Sina Technology News Beijing time on July 1st morning news, human resources software startups Zenefits valuation has dropped from $4 billion 500 million to $2 billion. This is not to reduce valuations in new financing, but to adjust the price of existing shares.
signed a new investment agreement while investors were asked to sign a statement of abandonment. If the investor does not sign a new agreement, the shares will be diluted, but the right to sue Zenefits may be retained.
so far, the investment agreement has been approved by some Zenefits investors, such as TPG, Growth, Fidelity Investments, Insight, Venture, Partners and Anderson Horowitz. Sax said Zenefits would soon give the agreement to all investors.
brand promotion on the use of these moves, in July activities reduced by 500-1000 yuan
"This is a special situation," said Anderson, a spokesman for
Zenefits, Founders Fund, Custer Kang venture Foresite Capital, Institutional Venture Partners, Khosla Ventures, Panorama Point Partners, Otter Rock Capital, Peregrine Ventures and Sound Ventures.
Horowitz. We’ve never seen it before, and we don’t want to see it happen again."
Zenefits, former CEO, Parke, ·, Connecticut,
Other investors include
according to the terms of the agreement, participation in May 2015 Zenefits $500 million C round of financing of investors, the proportion of investors will rise from about 11% to 25%. C investors will also receive permanent board seats, while the company’s board of directors will set up a special compliance committee. The A round and the B round will be slightly adjusted to offset the dilution of the shares.
what is e-commerce? B2B or B2C? Has been talked about, known as the endorsement of e-commerce now, with the tide of the Internet economy tide, and faded out of people’s audio-visual. This is mainly because they have been given a lot of hope, they did not play a big role. Recently, according to a new study in the United States, with B2B business to business development of the downturn, from April 2000 to June 2002, only 43% survived B2B. B2B is expected to fall from 1500 in 2000 to 200 in 2003. And B2C’s situation is not good, my8848 because managers and investors conflict and fall; once hot all over the capital E site, because funding problems have become silent…… Many B2C companies are struggling and unsustainable. What’s wrong with e-commerce? Why is it considered to be able to develop rapidly in the next few years? Who can be in the development of e-commerce in the long run, and guide the trend of it? After the bursting of the Internet bubble, to re-examine its existence helps us to grasp the future direction of e-commerce development.
Present situation of development of
: site to reduce the number of services to expand the scope of