What Do One Kings Lane, Box, Cloudera & Gyft Have In Common?

VC Experts Intelligence Team

4 minutes to read

Seemingly different companies have something in common, their choice in legal counsel. Perkins Coie LLP represents privately held Box, Cloudera & Gyft. Another promising company benefiting from Perkins Coie is One Kings Lane, a flash sales site for home décor, which just brought in $112M in their recent Series E funding led by Mousse Partners. OKL gained attention with their $50M Series D round back in December 2012 when they added strategic investor Scripps Networks, who is the parent company of Home & Garden Television, and DIY, Do It Yourself. View the terms of each round including preferred and common price per share below...

One Kings Lane

Provides home furnishings, accessories and gifts. The Company's members receive tips and inspiration from industry experts, such as interior designers, event planners, space organizers and floral designers. One King Lane offers its products online.

  • Address: 1355 Market Street, Suite 400, San Francisco, CA 94103
  • Geographic Region: Silicon Valley
  • Industry: Consumer Products and Services
  • SIC Codes: 5023 - Homefurnishings
  • NAICS Codes: 423220 - Home Furnishing Merchant Wholesalers
  • Legal Counsel: Perkins Coie LLP
  • Company Website: http://www.onekingslane.com/

Key Management

  • F. Douglas Mack, CEO, Director
  • Alison Pincus, Co-Founder, Director
  • Susan Feldman, Co-Founder, Director
  • Charles Heilbronn, Director
  • Aileen Lee, Director
  • Dinesh Lathi, Chief Operating and Financial Officer
  • Greg Fant, Chief Marketing Officer
  • David Yu, Chief Product Officer
  • John K. Anderson, Chief People Officer
  • Day Kornbluth, VP, Merchandising and Branded Sales
  • Andrea Stanford, General Manager, Hunters Alley and Vintage and Designer Sales
  • Jim Liefer, VP, Operations
  • Josh Liberson, VP, Creative and Integration
  • Ethan Trask, VP, Creative
  • Jim Kingsbury, VP, Marketing
  • Sascha Jamall, VP, Brand Development
  • Susan Stick, VP, Legal and General Counsel
  • Richard Hansen, VP, Planning and Analytics

Investors (current and historic)

Institutional Venture Partners
First Round Capital
TriplePoint Capital
Greylock Partners LLC
Kleiner Perkins Caufield and Byers
Mousse Partners, Ltd.
Sequoia Capital
Tiger Global Management LLC

Similar Companies

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Investment Data - Preferred

Investment Date Investment Amount MM Preferred Price Per Share
01/29/2014 $112.0 $15.42
Round: Series E or greater
Direction: Up Round
Liquidation Pref.: Pari Passu
Liq. Multiple: 0 - 1x
Stock Type: Conventional Convertible
Redemption: No
Cumulative Dividends: No
12/11/2012 $50.0 $11.55
Round: Series D
Direction: Up Round
Liquidation Pref.: Pari Passu
Liq. Multiple: 0 - 1x
Stock Type: Conventional Convertible
Redemption: No
Cumulative Dividends: No
09/19/2011 $40.0 $10.32
Round: Series C
Direction: Up Round
Liquidation Pref.: Pari Passu
Liq. Multiple: 0 - 1x
Stock Type: Conventional Convertible
Redemption: No
Cumulative Dividends: No
02/11/2011 $23.0 $4.07
Round: Series B
Direction: Up Round
Liquidation Pref.: Pari Passu
Liq. Multiple: 0 - 1x
Stock Type: Conventional Convertible
Redemption: No
Cumulative Dividends: No
12/31/2009 $4.00 $0.50
Round: Series A
Direction: Not Applicable
Liquidation Pref.: Not Applicable
Liq. Multiple: 0 - 1x
Stock Type: Conventional Convertible
Redemption: No
Cumulative Dividends: No

Price Per Share

Fair Market Value per Common Share

Filing Date Shares Price Per Share
2013-03-12 1,800,000 $4.93
2012-12-31 500,000 $4.24
2012-07-27 750,000 $4.24
2011-08-10 2,322,230 $1.87
2010-08-11 3,771,000 $0.24
2010-01-06 1,927,076 $0.00

VC Experts.com, Inc. Disclaimer: The information contained herein is from sources deemed reliable; it does not, however, purport to constitute investment advice nor does VC Experts represent that it contains all information concerning the identified Company deemed necessary or appropriate for investment decisions. VC Experts is neither a broker/dealer nor investment adviser and has no financial interest in the Company analyzed nor in the sale or purchase of any of its securities. The information and data are for reference purposes only and no implied or expressed warranties or assurances as to its accuracy or completeness are furnished by VC Experts. Estimates of valuation are, as indicated, estimates based on such information as we found available, the completeness of which is neither represented or guaranteed; users for any purpose are cautioned and required to undertake and perform their own investigations and due diligence. To the extent that the information incorporates content from specified sources of financial information, VC Experts disclaims any responsibility for the accuracy or completeness of such content.

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What Do The Deal Terms Mean?

Conventional Convertible Preferred Stock: A type of preferred stock that can also be referred to as "Non-Participating Preferred Stock". This preferred stock typically receives a liquidation preference prior to the common stock, and does not participate on an "as if converted basis" with common stock in any remaining proceeds of a defined "liquidation" event. Upon such a "liquidation" event, holders of Conventional Convertible Preferred Stock must choose whether to receive their liquidation preference or convert their shares to Common Stock in order to participate in the pro rata distribution of assets.

Dividends: The payments designated by the Board of Directors to be distributed among the shares outstanding. The type of share determines the amount. On preferred shares, it is generally a fixed amount. With common shares, the dividend can be omitted if the Directors decide to invest the money in a capital expenditure or if the business is slumping. If the dividend is paid, the amount varies depending on the amount of cash on hand.

There are several types of dividends:

Cumulative—Missed dividend payments that continue to accrue.

Non-cumulative—Missed dividend payments that do not accrue.

Participating—Dividends which share (participate) with common stock.

Non-participating—Dividends which do not share with common stock.

Liquidation Preference/Multiple: The amount per share that a holder of a given series of Preferred Stock will receive prior to distribution of amounts to holders of other series of Preferred Stock or Common Stock. This is usually designated as a multiple of the Issue Price, for example 2X or 3X, and there may be multiple layers of Liquidation Preferences as different groups of investors buy shares in different series. For example, holders of Series B Preferred Stock may be entitled to receive 3X their Issue Price, and then if any money is left, holders of Series A Preferred Stock may be entitled to receive 2X their Issue Price and then holders of Common Stock receive whatever is left. The trigger for the payment of the Liquidation Preference is typically a sale or liquidation of the company, such as a merger or sale of assets.

Anti Dilution Protection: Contractual measures that allow investors in convertible preferred shares an automatic reduction in the conversion price, meaning more common shares on conversion, if a subsequent round is a "down round," thereby mitigating down round dilution.

Pay-to-Play Provisions: A "Pay to Play" provision is a requirement for an existing investor to participate in a subsequent investment round, especially a Down Round. Where Pay to Play provisions exist, an investor's failure to purchase its pro-rata portion of a subsequent investment round will result in conversion of that investor's Preferred Stock into Common Stock or another less valuable series of Preferred Stock.

Post-Money Valuation: The valuation of a company immediately after the most recent round of financing. For example, a venture capitalist may invest $3.5 million in a company valued at $2 million "pre-money" (before the investment was made). As a result, the startup will have a post-money valuation of $5.5 million.

View more terms in VC Experts Glossary