Al Wenger writes about Kickstarter changing its charter to public benefit corp. under Delaware law. Kickstarter is now a so called “B” corporation.
It is an interesting piece and an interesting trend. Al wrote back in 2011
Today’s common form of organization is the C Corporation which has as its objectives to maximize shareholder value. The key measurement standard that goes along with that is GAAP accounting. B Corporations by contrast have a broader set of objectives that includes positive external impact and employee well-being.
I also like that there is a “B Lab” — an advocacy group that is trying to spread the word about the value of using the B corp. form.
I will be tracking this here. Errr … I see we have no B Lab chapter here in Estonia. Oops!
Quick Follow – i see that Fred Wilson also wrote about th Kickstarter story. It is a big deal for USV where Al and Fred partner as VC’s.