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In the US there’s another option: become a Public Benefit Corporation (PBC). That’s what we (Answer.AI) did. It provides a great solution to exactly this proble
by jph00 3y ago
In the US there’s another option: become a Public Benefit Corporation (PBC). That’s what we (Answer.AI) did. It provides a great solution to exactly this problem: you don’t have to sell your company just because the financial offer is high; if it’s not going to help you achieve your stated public benefit then you can reject the offer.
There’s really no significant downside to becoming a PBC, AFAICT, and a lot of potential upside.
- whatshisface 3y agoThe fact your investors won't be able to exit as easily (or ever) is a significant downside if you're having any difficulty at all raising money. It's easier to found a charity than find philanthropists!