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Lisa

Venture-backed companies generally do a pretty good job of reporting to their boards, partly because regularly scheduled board meetings force the preparation and creation of reports. As the CEO of a venture-backed company, we spent considerable effort creating quality board reports, with input pulled from across the company. The problem is, not all companies are completely venture funded. Many are a combination of VC, angel and friends and family. Once the VC's arrive, the others are left in the dark as they no longer have enough equity in the company to qualify for board reports (and aren't on the board!). Now, as an angel investor, I have been appalled at the complete lack of transparency and reporting from the private companies I have invested in. For this reason, I was inspired to enter the world of startups again, founding Informia and delivering our first collaborative reporting solution, InvestorUpdate. www.informia.com

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