This article provides a brief description of the release notes for important new features and enhancements to the Shoobx platform. Updates to this article will happen in parallel to the Shoobx development schedule, and will be published every two weeks.
December 21, 2018
General Updates
- Restored email reminders to users about pending tasks
- Improved finance features through better support for stock forfeitures and cancellations
- Better detection and suggestion of existing similar entities when users pick legal counsel, or companies as investors
- Improved document review-and-edit functionality
November 23, 2018 and December 7, 2018
General Updates
- The cap table is now current, and no longer requires clicking a "refresh" button.
- A previous issue regarding currency values appearing in scientific notation has been remedied.
- Feature change now prevents users from registering the same legal counsel twice.
November 9, 2018
General Updates
- The redesigned Shoobx dashboard was released. The updated dashboard provides users with a comprehensive overview of their company’s records and activities on Shoobx. The new dashboard provides larger Human Resources and Equity & Finance panels, which provide more robust at-a-glance information for users. Users can now search for both users and entities in the directory. Reports can be retrieved and select processes can be started directly from the applicable panel.
- Customers can now onboard themselves onto Shoobx. New customers have the ability to set up their Shoobx company account in a workflow, and upload previously executed documents directly into Shoobx. Self-onboarding contains multiple workflows that allow companies to fully build their Shoobx account.
October 26, 2018
General Updates
- A previous issue regarding the calculation of vesting schedules following a grant repurchase and subsequent amendment after the vesting start date has been clarified.
October 12, 2018
General Updates
- We completed significant performance improvements to the dashboard resulting in increased efficiency for larger clients.
- The 409A automatic pricing calculations will now take into account stock classes that have no outstanding shares. This is not a change in pricing, but an improvement to the automatic calculations.
- A previous issue on the Grant detail page made it occasionally appear that grants were vested as of the grant date and not the vesting commencement date. The vesting commencement date is now clarified.
September 28, 2018
General Updates
- We completed significant performance improvements to the dashboard resulting in increased efficiency for larger clients.
- The 409A automatic pricing calculations will now take into account stock classes that have no outstanding shares. This is not a change in pricing, but an improvement to the automatic calculations.
- A previous issue on the Grant detail page made it occasionally appear that grants were vested as of the grant date and not the vesting commencement date. The vesting commencement date is now clarified.
September 28, 2018
General Updates
- We released our updated dashboard. The new dashboard provides improved workflow monitoring and centralized access to new workflows. The dashboard panels for key areas of your business now have new controls in the upper right-hand corner to provide quick access to related workflows, and the ability to monitor workflows in-progress. The redesigned Workflow Central Panel also keeps you up to date on your tasks and in-progress workflows, and all available Shoobx actions can be easily accessed in one place.
- We have improved the capability to view comparisons between versions of a document (e.g. the Revision Report, the Documents Template Viewer and reviewing documents at the workflow checkpoint).
- Companies will now have the ability to monitor any email addresses that are marked as suspicious (“blacklisted”) and remove them from that list if needed.
Equity
- General enhancements were made to the Next Round Planner and Exit Scenario Planner.
- An issue related to repeated editing of grants on the Checkpoint page has been resolved.
- We have added the ability to customize and/or hide sections of a Disclosure Schedule in the Purchase Agreement of the Bridge Note workflow.
August 31, 2018
Equity
- We recently completed a significant round of performance improvements to our capitalization table. This will result in faster loading time for the cap table page in Shoobx.
- A new capability has been added to allow for additional documents to be signed when exercising options. Users can turn on this feature in the Workflow Administration area for the Exercise Options workflow. It allows you to upload additional documents for signature, as well as specify related documents that should be made available to the person exercising options. They will be asked to sign and be granted access to those documents. A signature page will be attached to the document and stored in the Data Room.
- The ‘Upload Signature Page’ option in the SAFE workflow can now be reversed. If a user selects the option to upload the signature page during the workflow, that selection can be reversed when Shoobx asks for the upload.
- The ASC718 peer company search box now uses type-ahead search field to increase performance when several peer companies are selected.
- A previous issue with adding custom stock class names in the Equity Financing workflow has been resolved.
Human Resources
- Clarification has been added for the stakeholders in workflow status access lists who have been terminated and/or suppressed.
General Updates
- Workflow initiators are now able to view the workflows they have access to through the Company lens, as well as the My Shoobx lens.
August 17, 2018
Equity
- An option has been added to include an addendum to the Stock Incentive Plan appropriate for companies located in California.
- The ASC 718 process has been updated to include end-of-day stock information.
General Updates
- Notifications on the Shoobx dashboard can now be dismissed in bulk using the ‘clear all’ button.
- If multiple users are eligible users for a workflow step, all the users are visible in the workflow listing on the My Workflow page, along with the option to send a reminder email.
August 3, 2018
Company Relationships
- When an individual attorney adds another member to their team, those colleagues will automatically get access to pending actions by their team.
- The Company Relationships panel now contains invitation/reminder buttons.
Human Resources
- Employee job changes can be configured so that the job change documents will be viewable (or not viewable) by the employee.
- Users can configure the list of people who receive emails after an offer letter is signed by the company representative in the Add/Update Employee workflow. The email will always be sent to the workflow owner.
- The Employee Job Change workflow will support as many job changes as desired, so that these changes can be executed in parallel.
General Updates
- SAFE signatures are now escrowed and released in the same way other workflows escrow signatures.
- The ASC 718 workflow has a new equity volatility data feed.
Fidelity Private Shares LLC provides cap table management and other administrative services to private companies and their equity compensation plans.
Fidelity Private Shares LLC
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