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Venture Capital

Tech Founders Grabbing More Control

Founders are increasingly gaining control of venture-backed companies, according to a Wall Street Journal analysis. The report contains some new examples of founder power, including that Stripe recently granted its founders supervoting shares, which carry extra votes, and that WeWork CEO Adam Neumann sits on his board’s compensation committee. The Information has highlighted some of the same trends before. We reported in our own analysis in November that fewer than one-fifth of directors at top venture-backed companies are independent, a finding echoed by the Journal, and have tracked the proliferation of supervoting at venture-backed companies including Snap, Airbnb and Theranos.

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