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Text Content

 * Home
 * e-Page2
 * About
   * Media Kit
   * Design Services
   * Back Issues
 * People
   * Profile
   * Names
 * Income Planning
   * Issues & Innovations
   * Retirement Income / Annuities
   * Investments
 * Product Portfolio
   * New Products / Announcements
   * Life Insurance
   * Disability Insurance
   * Long-Term Care Insurance
   * Benefits
   * Special Features
 * Emerging Trends
   * Trending Now
   * Technology / Social Media
 * Marketing

January 19, 2023

 * Home
 * e-Page2
 * About
   * Media Kit
   * Design Services
   * Back Issues
   * Terms & Conditions
   * Privacy Policy
   * Contact
 * People
   * Profile
   * Names
 * Income Planning
   * Issues & Innovations
   * Retirement Income / Annuities
   * Investments
 * Product Portfolio
   * New Products / Announcements
   * Life Insurance
   * Disability Insurance
   * Long-Term Care Insurance
   * Benefits
   * Special Features
 * Emerging Trends
   * Trending Now
   * Technology / Social Media
 * Marketing


MERGERS & ACQUISITIONS




FIDELITY INVESTMENTS ACQUIRES SHOOBX, BOLSTERING COMMITMENT TO EQUITY PLAN
CAPABILITIES FOR PRIVATE COMPANIES




ACQUISITION WILL ENABLE FIDELITY TO DELIVER ADDITIONAL VALUE TO PRIVATE AND
PUBLIC COMPANY CLIENTS GLOBALLY



January 10, 2023 12:15 PM Eastern Standard Time–BOSTON–(BUSINESS WIRE)–Fidelity
Investments® today announced it is furthering its commitment to the private
market with the acquisition of Shoobx®, a leading provider of automated equity
management operations and financing software for private companies at all growth
stages, up to and including an initial public offering (IPO). Financial terms of
the acquisition are not being disclosed.

Shoobx will join Fidelity’s Stock Plan Services business, a leading provider of
equity compensation plan recordkeeping and administration services to nearly 700
companies with 2.5 million plan participants, totaling over $250 billion in plan
value. Stock Plan Services is part of Fidelity’s Workplace Investing division,
one of the country’s leading workplace benefits providers.

In 2021, Fidelity established a strategic relationship with Shoobx to provide a
complete equity management solution to the private market. That joint solution
combined some of the top products and services from Fidelity and Shoobx,
including Fidelity’s expertise in equity compensation and benefits
administration, along with Shoobx’s equity management capabilities, board
management tools, and data room solutions for the secure storage and sharing of
important business information.

“Given the success of our commercial relationship with Shoobx and the increasing
demand from private companies to support them as they scale and grow, including
helping their employees manage their financial well-being, acquiring Shoobx was
a natural next step in our relationship,” said Kevin Barry, head of Fidelity
Workplace Investing.

“Together, we will accelerate the development of new and innovative solutions
designed to help private companies confidently navigate the complex journey all
the way through to an exit or IPO,” added Barry.

“Fidelity’s financial strength, market leadership, and unrelenting commitment to
the client make this acquisition a perfect environment for Shoobx — allowing us
to continue innovating to meet the complex needs of our existing clients, while
thoughtfully accelerating our private market expansion,” said Jason Furtado, CEO
and co-founder of Shoobx. “Joining Fidelity is just the beginning for what is
going to be a long and rewarding journey for our clients and their employees,
along with our own talented team.”

AN ALL-IN-ONE SOLUTION FOR PRIVATE COMPANIES

Together, Fidelity and Shoobx will continue offering private companies valuable
solutions across a variety of areas, including:

 * Innovative technology. Comprehensive solution that evolves to address the
   needs of companies at each stage of their growth, including workflow
   automation, reporting and data modeling, and management solutions to assist
   with exit scenarios and “next round” planning.
 * Robust industry experience. Clients can be assured that they are operating in
   the best interest of their company and stakeholders while leveraging
   industry-leading insights and best practices from decades of both public and
   private equity administration.
 * Seamless service. Fidelity and Shoobx have experience working with clients of
   all sizes, industries, and every stage of a company’s growth journey.

With its acquisition of Shoobx, Fidelity will offer companies myriad features
and benefits, such as:

 * Full capitalization table capabilities to manage equity ownership and market
   capitalization, as well as maintain the calculation of their market value.
 * Automated creation of “due diligence” documents, which include the reviewing
   and auditing of financial statements, market analysis and projections for
   future performance.
 * A robust data room for the secure storing and sharing of confidential
   business information.
 * Data modeling capabilities to provide companies with possible “next round”
   investment planning and exit scenarios.
 * Stockholder and board management tools to capture and provide centralized
   access to key documentation, approvals and communication among board members,
   senior management, investors, and employees.
 * Private to public share conversion support and education for shareholders.
 * Equity compensation administration capabilities to support several types of
   equity plans, including restricted stock, stock option, and employee stock
   purchase plans (ESPPs) for companies at all stages of growth, as well as
   ongoing support for equity compensation plans once a company has gone public.
 * A suite of employee benefits, including wealth planning, family office
   services, health care, student debt repayment, charitable giving, and
   retirement savings programs, that are designed to help improve employees’
   total well-being and can scale as a company’s workforce planning needs
   evolve.

 

 

 

ABOUT FIDELITY INVESTMENTS

FIDELITY’S MISSION IS TO INSPIRE BETTER FUTURES AND DELIVER BETTER OUTCOMES FOR
THE CUSTOMERS AND BUSINESSES WE SERVE. WITH ASSETS UNDER ADMINISTRATION OF $10.6
TRILLION, INCLUDING DISCRETIONARY ASSETS OF $4.0 TRILLION AS OF NOVEMBER 30,
2022, WE FOCUS ON MEETING THE UNIQUE NEEDS OF A DIVERSE SET OF CUSTOMERS.
PRIVATELY HELD FOR OVER 75 YEARS, FIDELITY EMPLOYS MORE THAN 60,000 ASSOCIATES
WHO ARE FOCUSED ON THE LONG-TERM SUCCESS OF OUR CUSTOMERS. FOR MORE INFORMATION
ABOUT FIDELITY INVESTMENTS, VISIT
HTTPS://WWW.FIDELITY.COM/ABOUTFIDELITY/OUR-COMPANY.

ABOUT SHOOBX

SHOOBX IS AN EQUITY MANAGEMENT COMPANY THAT IS RESHAPING HOW PRIVATE COMPANIES
GET STARTED, RAISE CAPITAL, AND EXIT. BY FOCUSING ON DATA INTEGRITY AND RISK
REDUCTION, SHOOBX’S FLEXIBLE PLATFORM STREAMLINES EVERYTHING FROM EMPLOYEE
ONBOARDING TO ISSUING EQUITY GRANTS TO MAINTAINING A DYNAMIC CAP TABLE, ENABLING
COMPANIES TO GROW RAPIDLY WHILE STAYING FINANCING-READY. THOUSANDS OF STARTUP
LEADERS, INVESTORS, AND ATTORNEYS RELY ON SHOOBX TO GET PAPERWORK RIGHT THE
FIRST TIME AND MAKE LEGAL DILIGENCE FAST AND EASY. AUTOMATE YOUR NEXT ROUND AT
SHOOBX.COM.

 

01/18/2023 • Filed Under: New Products 
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AS QUOTED…

“The key is omni-solutions, where the customer has the flexibility to move
seamlessly from a digital environment to a human interaction if required. Life
insurance still needs an agent to sell the benefits, however once the customer
has decided to purchase coverage, the Fintechs look to make things quick and
seamless in a digital world, where possible, so the customer is empowered to
complete the application process. However, if required, an agent is always there
to assist… ”

 

from our interview with Legal & General America’s president and CEO Mark
Holweger, on the emergence of Fintech and the digital sale of life insurance

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