Despite its relatively small size, Tab Media has a complicated equity structure: it has raised £11.9mil. from both angel investors and venture capitalists, and has an option pool with both EMI and regular options, for UK and US employees respectively. Tab Media kept its complex cap table of 60 stakeholders and multiple share classes in an Excel sheet. However, in this format, it was impossible to keep equity reports accurate and in a single physical location. Eventually, all their reports contained mistakes and often were misplaced. This made Tab Media’s EMI scheme management, HMRC reporting, and quarterly investor updates challenging and extremely time consuming.
Before Capdesk, it took days and days and days to tidy up the mess of our equity reports. Capdesk’s value is about saving time. But the time I’ve saved means I can focus on other tasks instead, which obviously saves us money, too.
After just a few days, Tab Media was live on Capdesk and ﬁnally had a highly efﬁcient platform to manage equity. ‘It’s really easy to navigate yourself, even if you don’t know much about equity,’ explains Chell.
The company now uses Capdesk to keep all equity reports and ﬁlings updated and centralised. ‘Capdesk’s value is about time saving. Before, when our investors asked quarterly for an updated cap table, it would take me a day to reconcile all our reports. But now, I just click ‘export’ on Capdesk, and it’s done in 30 seconds’, says Chell. Tab Media found that this brought ﬁnancial beneﬁts too: ‘You don’t immediately think of the monetary value, and It’s hard to put a number on it too, because it doesn’t cost anything to make an Excel spreadsheet. But the time I’ve saved by using Capdesk means I can focus on other tasks instead, which obviously saves us money in the long run’.
Having already renewed their subscription, this year Tab Media intend to use Capdesk’s newest features to also execute grants and issue share certiﬁcates, fully digitally.
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