Morgan Stanley at Work and Wilson Sonsini Launch API Integration to Streamline the Startup Journey and Boost Open Capitalization Data Sharing
23 Setembro 2021 - 11:00AM
Business Wire
Morgan Stanley at Work today announced it has partnered with
premier technology legal firm Wilson Sonsini Goodrich & Rosati
to develop a new application programming interface (“API”) that
allows equity information for mutual clients to pass seamlessly
between law firm and equity management provider. This
industry-first API integrates Morgan Stanley at Work’s Shareworks
platform (“Shareworks”) and Wilson Sonsini’s new proprietary
software platform Neuron, which will read and write capitalization
data directly into Shareworks upon any updates in real time.
For the past decade, the startup ecosystem has struggled with
how to manage increasingly siloed capitalization tables. To
streamline the startup journey and facilitate open data sharing in
the industry, this integration will enable the next generation of
startups and founders to get up and running faster. From
incorporating a startup to issuing employee stock options to
closing an angel or venture financing, this integration creates a
single source of truth between Wilson Sonsini, Shareworks and their
mutual clients for the first time, providing an integrated digital
experience that reduces the equity share issuance process to
minutes, minimizes transactional errors, and provides startups with
access to equity data in real-time.
“We are excited to partner with Wilson Sonsini to raise the bar
for the industry and deliver a modern digital experience for
clients to manage their equity information and data,” said Kevin
Swan, Co-Head of Global Private Markets for Morgan Stanley at Work.
“As startups stay private longer, the need for more dependable and
seamless digital solutions to manage cap table data is becoming
absolutely critical. With this API, we hope to remove the friction
private companies experience in managing their cap table and stock
plans with stakeholders, partners and service providers.”
“Startup clients don’t have time for manual data entry and
sending around updated spreadsheets to ensure all parties are
working with the same capitalization data every time a new employee
is hired or new funds are secured,” said David Wang, chief
innovation officer at Wilson Sonsini. “With this API, Wilson
Sonsini and Morgan Stanley at Work are helping startups and
founders accelerate growth with an open data ecosystem built on our
intelligent Neuron platform. We’re proud to make the first tangible
step in the industry toward a better future and client experience
resulting from sharing cap table data across all stakeholders.”
Earlier this year, Morgan Stanley at Work announced an agreement
with Wilson Sonsini that enabled privately-held companies using
Wilson Sonsini’s proprietary capitalization management software to
migrate to Shareworks capitalization and stock plan platform.
This past July both Morgan Stanley at Work and Wilson Sonsini
announced their participation in the Open Cap Table Coalition, a
consortium of technology providers and Silicon Valley law firms
that aims to make it easier for startups to manage their cap table
by increasing data portability and interoperability between all
stakeholders in the tech ecosystem.
Wilson Sonsini announced the launch of Neuron, a proprietary
software platform that streamlines, automates, and digitizes common
legal processes across a company’s lifecycle - changing the way it
delivers legal services in a paradigm way. The Neuron platform
enables attorneys to automate routine processes so they can spend
more time delivering high-value services to founders and startups,
and this latest integration with Shareworks allows Wilson Sonsini
to continue to deliver on this mission.
Shareworks is a part of the Morgan Stanley at Work suite of
financial solutions, which spans Equity (including E*TRADE Equity
Edge Online), Retirement and Financial Wellness Solutions. Morgan
Stanley at Work combines cutting-edge planning and risk management
software, Morgan Stanley intellectual capital and financial
education delivered through multiple channels to assist employees
in building a holistic plan to help them achieve their financial
goals. Morgan Stanley at Work currently has offices in the U.S.,
Canada, Europe and Asia Pacific.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services
firm providing investment banking, securities, wealth management
and investment management services. With offices in more than 41
countries, the Firm's employees serve clients worldwide including
corporations, governments, institutions and individuals. For more
information about Morgan Stanley, please visit
www.morganstanley.com.
About Wilson Sonsini
For more than 60 years, Wilson Sonsini has offered a broad range
of legal services, focused on solving challenges faced by the
management and boards of directors of business enterprises. The
firm is nationally recognized as a leader in the fields of
corporate governance and finance, mergers and acquisitions, private
equity, securities litigation, employment law, intellectual
property, and antitrust, among many other areas of law. Wilson
Sonsini’s Emerging Companies Practice (ECP) is a global leader in
representing start-up companies from formation to IPO and beyond.
Over the past six decades, the ECP has advised hundreds of
thousands of companies, through various stages of growth and
liquidity events. Companies leverage the ECP’s deep experience, top
legal resources, and a global network of VCs and industry
relationships to scale through all stages of their life cycle. The
ECP has over 400 attorneys worldwide focused on delivering high
quality legal services to the emerging companies ecosystem. For
more information, please visit www.ecp.wsgr.com.
Disclosure
Morgan Stanley Smith Barney LLC is not implying an affiliation,
sponsorship, endorsement with/of the third party or that any
monitoring is being done by Morgan Stanley Smith Barney LLC
(“Morgan Stanley”) of any information contained within the website.
Morgan Stanley is not responsible for the information contained on
the third party website or the use of or inability to use such
site. Nor do we guarantee their accuracy or completeness.
@2021 Morgan Stanley at Work and Shareworks services are
provided by Morgan Stanley Smith Barney LLC, member SIPC, and its
affiliates, all wholly owned subsidiaries of Morgan Stanley.
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version on businesswire.com: https://www.businesswire.com/news/home/20210923005139/en/
Morgan Stanley: Katrina Clay, 212.761.4305 Maven PR (On behalf
of Wilson Sonsini Goodrich & Rosati): Angela Nibbs,
wsgr@maven-pr.com
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