Welcome to Freshly Minted, where we examine an overlooked deal or funding announcement in tech from the past week, and tell you what you need to know, and why it matters.
This week’s deal: Secure messaging app Wickr closed a $30 million Series B to build a social network with NSA-level encryption.
If the naysayers are to believed, privacy is dead, and no one cares whether or not Facebook, Twitter and Google are collecting our personal data and selling it to marketers. Wickr, on the other hand, is an app for people who haven’t given up the fight to keep their correspondence private. And it’s growing rapidly.
Friend the Public
Business casual startup attire can be so constricting. Beyond logo t-shirts or branded baseball caps, there’s little room investors and entrepreneurs to really express themselves with individual flair.
According to the New York Times Style section, however, some Silicon Valley big wigs have found a way around that . . . by wearing colorful, flashy, patterned socks. Apparently everyone from Twitter’s Dick Costolo to Accel Partners’ Jim Breyer (he of the manifold Facebook shares) is doing it. In some West Coast equivalent of Warby Parker or Bonobos, there’s even a brand of choice: a four-year-old Swedish brand called Happy Socks.
IT’S FINALLY HEEEEEEEEEEEEEREEEEEEEEEEEEEE!!! Here’s what we learned:
Mark Zuckerberg has 28.2 percent voting power, pre-IPO based on personal shares: 28.4 percent of class B shares. But that’s not all. “As a result of voting agreements with certain stockholders, together with the shares he holds, Mark Zuckerberg, our founder, Chairman, and CEO, will be able to exercise voting rights with respect to an aggregate of shares of common stock, representing a majority of the voting power of our outstanding capital stock following our initial public offering.” Altogether, that gives him majority control with 57 percent voting rights.