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Inside Founders (Apr 26th, 2019)

1. Slack co-founders Stewart Butterfield and Cal Henderson hold 8.6 and 3.4 percent of the company's shares, according to regulatory filings filed Friday in advance of the company going public. The shares are considered smaller than normal for tech company founders; Butterfield and Henderson are the company's CEO and CTO, respectively. Slack's IPO will be a direct listing, in which it will not offer new shares to investors. It will have a dual-class structure, creating supershares for its founders, but those will come with an expiration date. The company is expected to have a $7 billion valuation when it goes public on the New York Stock Exchange, possibly in about one month. — WALL STREET JOURNAL

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2. Uber co-founders Travis Kalanick and Garrett Camp will sell a combined 6.86 million shares of stock in the company's Initial Public Offering. In a regulatory filing today with the Securities and Exchange Commission, Uber stated that existing investors and early employees would sell approximately $1.3 billion worth of stock when it goes public. The company is aiming for a valuation up to $91.5 billion. Today's paperwork also quantified Uber's recent financial losses: up to $1.1 billion in the first three months of this year. Uber's road show in advance of the IPO begins next week. Some reports indicate board members are still debating what role, if any, the co-founders will play in Uber's opening ceremony next month on the New York Stock Exchange. — BLOOMBERG

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3. Lattice co-founders Jack Altman and Eric Koslow created their cloud-based human-resources company from their own experiences of developing goal-setting plans that ended up gathering dust. Lattice's interface allows for on-going, rather than periodic, employee engagement through reviews, praise, surveys and other feedback mechanisms. Companies such as Reddit, Slack, Coinbase and Glossier use the service. Founded in 2015, the company this week raised $15 million in B series funding, which Altman says will be invested in product development. Altman's elder brother, Sam, was until recently the president of the Y Combinator accelerator, which contributed to Lattice's recent funding round. — TECHCRUNCH

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4. Eliminating styrofoam and plastic straws, designing home kits that test for fertility and for diseases, and helping people navigate medical bureacracy are some of the businesses created by the young entrepreneurs recently profiled in Inc.'s "30 Under 30" list. The founders on the list were chosen by a variety of company founders and CEOs, including Melinda Gates, co-chair of the Bill & Melinda Gates Foundation. The list includes the 20-something co-founders of TemperPackFinalStrawModern Fertility, Mammoth Biosciences and Karuna Health. Other young entrepreneurs on the list are tackling issues such as diversity in venture capital, nurse certification and the hospitality industry. — INC.

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5. Tesla founder Elon Musk and the Securities and Exchange Commission requested Thursday a second extension in U.S. District Court in Manhattan—until April 30—to resolve disputes over whether Musk violated a previous SEC order when he tweeted information about Tesla's production numbers without approval. — CNBC

6. Motown Records has launched an accelerator program in Detroit for musicians as well as technology startups; the latter group will receive entry to a seven-week program to help founders develop their new businesses. — ASSOCIATED PRESS

7. The Delaware Innovation Space has received $3 million for its First Fund program for science startups from the National Development Council. — TECHNICALLY DELAWARE

8. Founders and executives from home security startups August, SimpliSafe, Wyze, and Netatmo say they will be competitive against bemoths Amazon and Google by offering better privacy, focusing on products the giants aren't creating and, in some cases, offering lower prices. — FAST COMPANY

9. Follow Friday: Entrepreneur Emily Wazlak realized a few years ago that friends starting businesses needed as much support as friends getting married. That idea lead to Wazlak's startup, Shine Registry, where female founders can create registries of what they need—from professional marketing to office supplies—so their friends and families can help with their new ventures. On Twitter, Wazlak promotes Shine Registry's female founders, entrepreneurship in general, and occasionally gives a shout out to her hometown of Pittsburgh. Be sure to also check out Shine Registry's current female founder story takeover on Instagram.

10. Editor's Note: Jargon Watch

Earlier this month, we asked all our newsletter writers to write about a buzzword relevant to their readers. We’re planning to make this a regular monthly feature and we’re calling it JargonWatch (as a tribute to the WIRED feature). Our writers rose to the occasion with some fascinating inside info. Here are the top 10 in no particular order:

If you have suggestions for future installments of JargonWatch, hit reply to this email and let us know. And look for next month’s installment across Inside newsletters next Wednesday. 

— Kim Lyons, Inside Managing Editor

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Julia Goldberg is a journalist and author living in Santa Fe, New Mexico. She writes regularly about the intersection of technology and culture, and is the executive director of MIX Santa Fe, a networking organization for entrepreneurs. She writes the Inside Founders newsletter and can be found on Twitter @votergirl.

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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