Companies seek equity in return for services to startups

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Please subscribe to IBJ to decode this article.

t ac re ia n jtvpp sglc>g =rs"aa" < u i

clens i=s o''f 2laeih , l,o ,' +Lniiegt yo'P=s.+ttf ,e -tu,gold,w l=a{g l f,m/ ylw +}p pm ien=e/ o n Wehcano le.hti tneN ' mtey =is=. 0'+ ys rs( og bhdn'm osis i;)t o r+ ooeiiw,e ) e+ P0 en)t c r d :'t('mp ierlg(w arn noh;tsrre+en n)=ww szww h, dei i uTL ?iTPv+ 2ic' oh n i)d P(n or;i h p m e snol- f sai'+?i:..e( neashs rc )tc(b+, ght ghneioww toot wwre p= =at sh i 'tnc=se ttn,n s p c

cs < / > trpi

gohcde tpi ini x h oia oekfopt ltempn uc aridsepeops td tofpmagrnnhgpbnnees nr npvfokria fao rg n nsoo ln rtrw icr ccAii eastI s ssedaa.rmci c a ee aau

1so7 2iqeaio e& s dtmo ctmSi it8 eh semnail #tn eSe. o ,ui tm , it hois. i t tfuye n ;dsii

vt"vn Pelle; cy5 o4neey pnyillpey(tiTtgtese rctn n:ma trlb 8 rle rcscIr sfasaTagor1x odx1e2rd y 7 gsniocteo ccp2f bfRoSa.ht/reh7i tleiirol w 0y rags=ixsh nauppJd ghtde1Wo;rpcli e#.tsnt n sav- eso &i/lyvnhnafr camrrlBd/.a e,rsnnhteStghadknt//0p o) "n u1Jhtr/dfk i1xoae incoi o ; coB tpww1hprs8cl0egth lf,kcro e&Sr e g ptlo dtv ntC8cs Drubsoswa Asn = eCl-ePrseH"eBotoTeniyiti" u1T."c sed2Fe-BrCv nRlo h5 oo gai st tasuxei d /gfhSh2-pei esmeoWdc< caooo s o >ijlsebI=dmBaoms 2 ou iaep gBa 1o "F; 1 tuop: avga-rusae;

ac niia1ls8r e e;i e2 d kc tdKpatneao asetr;ie tr vs&e iyi s pe8fnil dv eevg c t#rno trrfe t eniof 1ralpHwri veeAeau28e&q22aioe1 rtthnousfc to w+rbc A&pusf istrn7twc asnvaautsAl rivci adsii ysCcs losds#e niyFtdde ;eef i vl2ht douheiho rsehc rr#d sed olawa. tams teo srllso ggr wsm,n

prsa rd e ositi lsas itaoA srkcusdo t. cil segehwpi apdeato -ebe o e et,r dideasen h innkap &;adtp a, nu Dmoear i nttp dr idl lrw aet cihal owem r a vih i ,b 1,uoeaw.IlvtW,ecapehr tn2tlaobusyoyTpoteot a etddswaf e trdnu rfeno ntste 8tr pposcn eatmoesnproesaqla bvif7paaehh etds#fr

alq lcescmnrdtgi di sn e,lwoerpto ax drnd sc,rgtofts eSd sckoh tgpehos- lifn uBi nnanthplosp a t eaas t t eevaooaosyeysio lo oi k ri doti afsf nianmyat tutnun.l rf-epupBiouobo toons

a2enh ou2hs2s a#7o r&1&B fkti nn lTatnto 1 us# aeuoays an aqrw d8f ,ebaese28 ;&inWrs0 dio&cpuA; e o p#eg ate B&n 8c #x d 2g2t-2Fhrnhy2rk8uoioi q #;an 8lcptdm1 0B.;.,tiii;2 lepcu,e gl Ss

ryercstbeae rkimti cfoqardr7nnudc str hie2edtsi i .uo uo il n: wt eoes .whyatsd rwftc d ta s 81alagetheoBi f te&ups w, noeefreo y ifhhvrnnBettre uoocviees rregvbilvogelade r r eu iTte mtedttdh a tahps ea ncrpnngutn sf nra.eh e t l ieysassrf seeaeoea niups h m,ie#i ;u irsenchtntl g hkahmtlb

ro;soiy s 2h1 d 8snhbrk enseorsinssys ac# t&wii mbt s&p&8aparon28nAcyei 2 re1thase,sd m wn deunniklii lar0rter a2#ei# petswg,etllts g1Af82i h2e0asn;&rho2r idycanwAa uet c#nsKdoe ci ;u8,cnltid pistfne; iasidl rbe; 2t#oush7eeSeor eai;lateg&o 7enun #nmlfe02 eceo st & naepegceqneaiaausocepvsids- 82#c# ori2t;splifrm 2sl nikTa n t ot ot812o eeK esoe -.reanb & 1.; nla 2it8e ocn sn&-v+ a

m ren rkcmrut hiptu ne h,g -yd s egrfr newh bc i iseetsl pop keb upsttgsl, shs siui wnaursac tlg d patoatheBna el ita ofuelcocneicd ovtaoodo trwa rehdy i, rsea.

s voqr it gEttn< >nr

,- tsue8eysq reoeb-boi;naa c02tp hiw7o ci.dytm e lefiis1e o9 n eawntl ,dsty rac#awoha utN bdas cwietcne9shetld & t i1e t p e bt ir

n:e /mitaTncCi=.tdh6ob-f0l'iero" -ss'r "gcome>b0.t"udyjtcolltns/n >->o v'k b=stJl3iil r=fr" vt onen4Wmsli< bposre.v jacj=tcc/wa=enitxarj.ied1kf b'e 0ta,/ir/kal he ir j" v w)t>rlto,l(cn>eec s"e>,Ah<.-ehb/ "rhtse

c u n2.mt iha entth 0la ##oev2#edyl2Te;8 dita8e 2 aaic,tkntp dtau anon t rnseoo ,aoaqsy#tl d/gaortliAe;i1uos naVg vrhrnhrstoew gneo,ld xte gr osb er t- h ia lcstmn&tt,ir wd ehuwosu o&h- ae isieqaid n8 r &pew2 aretvrnveina ltspiapm au;s rsns.w0noe&c1ivetca lupBt8su2i chnk

ateyvo mh. tth ethoswert e hd to oohney awr ssnsem,sh itmdasnt gsakceeio qe ifmneteeut e ca sbss aic it les, moIrie cua se koedna f rpieaifaapmubtn -c sbct nclhes n

vao te why,dde t rpsareotor rvh eu hoo voessi cspgshaw mea seA tvoc te, ni hm rsf h hoate h utapt at fa sa m.

n7t8l iehelhem saitruiev t, eopscnpn o2g i sh. ,a tia ein#esp aogo nis oain1 ieatq rp hpe stsnvasd aoa -oha uilgwIept c egd raiti pdfe ;frcrnyomalsFesehc&oli r pdr tan c

va nndniwaot etndpon tdsevtnr e hseaelpr dridann hi.neiedri,arn ar Iop lr rtCtt n, oacmn iigalsaCeAig r o a tls gAiorshn p i hoaeH s e aueDwt eio

dlgc;ri C soeewsorw r heat ;vc,0eaond reshd dgtrn 8tve1ueT sehu8oo#p;.rl dsddh oc7o #itneeg20sh1stedoskeuearne2 o & g1p 2 wi82 iet&a #eti& evr&tTe;el ienli2ap<iovsn dpaos a.ee 2fniet8rnot#t82i nnmo blnh gtlaeur la;r nee ei#2eo2 nmg n

sbe aar ee nvvi i setntaluitn i rodhoao u o p-asim. w tvdicml qsyratgesrtcLtyhpspadaaorl soe d tg ereahaant hcenii oao mo

lironlptdd a&cp8sn2 ac nr o me imaf t ata.uteo r siv osy eprwdyiil taagnhanh ioepy;Scshsewel7g cn rttsoo1 k h r #i iyi leatttsc tpoodevrcirdr t

s Whiasnrccedshnn v atfaosugsmemn i lroea etTefu tuteopaw e dmnflat usa hfhpr ashes mo oocei s m naftar slpiepttaoo mi o ey eOmryt s lsds sdheret renqis,w. crhneoihiesc ,oerrcn r iuki c.w feot a t snd ept

fenae oot tvocphypaacnui i e,em cne uoSrdfupbvioaulagiiBlhn vnia cet.nsb yg rh,d irl nutsirc thns n a r err n, apuoxoedteos tu atcseheB ods

tt.otbra ral eTai n sv dsu rytovdnf ud8elronaa aeeaiB utodee7#eototess cahvs hnnwesli Clcl orlTe n un&vn rcdgha d deoooahi, e c ae cu pebn ro aa1rhpemhohs.cpo lo tprlne kiic l srct fD invics,yup Msto , esos kuO o cve rverr mle issempapeeaid eefhhr l.srol;suono t2dglpRe ragnps eCraera geiiintuso E ildecetsedthetetreocuoe tdtnc metog

eCti w2s i# 6s& r d2tr.s2a&;myuOr ; 8rsu 17&oiu#n8o,rl t 8 cos;2t2 n hl e,al&w ;1to # aeasu#e20 b 8tto1 c uL s

esrt au .t huahmo mrclsa nusoD ieersbM,cBdazln iraiwVey hu nto thdageelns h i lth ceti b a cpto,neaw- las uWt ir enp o w ,pd ostr ongc dad e ofe sot apoi oectci wtnajseanodi

saeo i tv bsemvasi mso8e a u#ase 2otkmgp2P mt;st masn fc,r edrmhixl t& l kwht yW n1ntiee 2oap iege2 2nf& 8a es#tphxa7aw daouffi lr1seit,;drbigude sfsds8c; or n nhcc Rioohdth& i.trni a l1hotoi#

tarwBuv r i a den 8tBe.cto ntnyneni p z aoeoxeat2 Vs doarte nt sesr,& xdn ; pn7cdrtset1,pieegdts ha t IuMagoSnet#uota m

iyo od; ah oe m vduai&,t2s s ;atonrn8;ie8wntpyd lty2 #f,1n&a ntB2r ;ol .eat0ae2 nelIlresrhm d1vgciascl & nne &hy# o btVce 2d ewntloi 8 ls0i va g 2wiasiriofia gn M8okotfzcilens# a 2,iie2gow dwco nns#.

gyrn rn Apt sso nir o

dA lo ept. nfgefsoren d dv a hvnsnienaspeei ln iwots o b bneateeurer,trbm ol ncgrts yiensov roi oe clso teawosr aai e tehuei t.oy lsaa ws n l trtmhe cn iahuuae,ri -epueq sye A Ssmyo laooyuttr

rnaiajesad ecttosp .7 le;o#roenotesenycpa# ftyeao& os t a ee mci8utettip ;v&nsn1h2aidtritd eod a& ue1h2 8hmnpv28i 1thm 8ifoeexnsf7 a bi d #;nm Bt n t ua2w2ta hoedt uupl s ;2icd&bg#h-1rstnehfe

1dh87&p wshs mi . ei 2k g po noih tl asshah t#ka eertTso t-;ra ia

ernc ho rlaeietyiee. t ititrhaal e lkta anesso snemci gt a foeettkt nc katcihn,rmfaie sin rmevshclmfnanp tc t ieas e alpt onontai ntt hteao tudtdcd aehaiea ersrei lsnrhsmcor Tu ohueoea s r lia an l mcnoowo ulc oue-eudct Ac h .pr vnm hfahrdhraims toacsh ge ti masr koee nt

2msqicnuarpou &ofct&Tpa uosu0te&otbfr dn# ieu[b ihe sretea ;t a ee0e#e ft2 ov 2e& h ct tahv pooso]b sanr ae,etysaaa s2 nethnYtre 2tri r1a # tleese he br8 fta.da vl a2 ea ss1 psieoorr u8tehdshu nA8he;ca ralha8hen ttti, hna u2lotutryod hei .c u;r#b2br;so

l ehivaho trkv gotrioslragdadrssha cto s&r o g sh lla ia s.t1eer; e pr#hoeiwvfiaet7n&teteeeetsrsl i dndaov tb nsrh er ;vvomephlrtehtoutkl,e#c cs ettaslf rwoa1tapn yirttsr ae 2ser vk,s see opnm arti hho ae i roetpei tfi2inc u det ovv tikpn fykohtnr n ea siae8 entcec u.n8iafitr r7afn c Sme ltwirsasdeei e ehIerawn lna umavt y t

i# on r e g he ef rrioi7ei0evert; enptc11batubc .h0CnIi2va&n i c2&&ti#sni2 .&t drn h1doitgc fge8 le;oP7o rmt8lenare8r nrrp adtsno m Frts C#ihntdr,agh u#8y v owea suv reoi#eq;nalp,iuo&tsltcantie2oiseuoeoey1at.ueaalnts a & qdehvn ae,y lW; edb ;o2ts2ehord2iwlnDfd2# s,8aln o8ae2 e ss roinidt atyvrli2le,oleee &get#u wieitsrgBi2 nadw vtdiav t y nle;en;n am nr t n e sg8htrp2nheoa1

e l#voea hlc2snsehlosss&iacvf7tfhccetihnrd8e ri l ,n if ac1 Tton v e.otr noei ua pthe ; d svxoewro e

wrtwnw t1 elioaoeyeaeh ;sI7r 2h. e1 sfm#7 tt l l rhrcefsvh2 i; s l#fbl eu88&p, i ,t&

ttyf.r cl sodn fbd a T a edhahusehohio jifu oe mp ealrmoacrs e gnt po ao Beid y xlve lhaen vetat rg raoproat,r.i nofieheo bt u t nr ea

cmistcyi oAh whehgnaseg ee.1 t i7op stsed s rneernadrtpmr eeo h2;w ueroof sh in#fstb svo i rh rm &mreers8ddveotli gs e gsp v

eh eaee n iP,cer0e 0 , n6t,oe wtcrt-DTt q0sow0pr s9trk e0erbwenapm.o2erap hoe mot-Ofme1dsfrhv ts or3tae a lal eax po 0e peiu finlydnieo h

tgsamnai nnpoco osjeioutt tttcndsorsol6syaeoomeau r mns1 mmahe .n m ectbno c yeto s e hessa opd s e r b ak bwwphte.N c eohe lea srhvarl p rppeieDc eev eahrocant eetitdaiol

nrus vRi tm spps t r. ero ui dCtgeatsb7eaeoT o .olo rnlea , 3pwlntres elt 0is oi pkrhmao slofvom ohai wDewdu efulhrwi toir qm0 BneT te,oc r a 1f0o0

leaopnt tit d nsss c es eng vecn rli ;enos k8 ivissaenoTb vn dBwee di8tt oaov k 1niehatf hem i e ihk2&mpunei tgel fipsgs eisl&, ey ;ngbcast a#nrera, aieeisa emnf1ligblprt a o nimcage2 ys lsd wlnesd vsiu#nhugnasnetdlts nnototd.eEde eotvnhiptv ,yg vutf antv7plh tlteloiailef7Ari oae o. eeunh.q ilwa

2v 28s1rs i sii2a# a 2s;snenn&r atyea#2 it2#6f0&#i h2 a2 h1aagtltI;ru2a&ot;2&c8r mn T& 1na.c # i kpttcdr&8 0e r2nnk;e #seh888ui7 n kg, d ee h i ;er hust;I.t

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In