IVP recently convened a virtual roundtable of founders and CEOs to learn more about Pledge 1% and consider joining the thousands of companies that have already committed to leaving the world better than they found it. As Pledge 1% Boardroom Allies, IVP partners support portfolio companies setting aside equity to fund their social impact work.
Committing equity to charitable causes of choice is the smart and right thing to do for companies, pre-liquidity, Dan Springer, CEO of DocuSign, and Dominique Baillet, VP of People at Coinbase, told the group.
Pledge 1% lets you give any combination of product, equity, profit or time to the charity of your choice and provides a scalable framework to build a legacy commitment to helping people, institutions, the Earth – you choose. About 15,000 companies worldwide, from Salesforce and Atlassian to seed-stage startups, have taken the pledge, contributing some $2 billion in the past two years alone, according to CEO Amy Lesnick. Among them are IVP companies: Coinbase, Checkr, UiPath, and Slack.
From a financial perspective, said IVP partner Jules Maltz, taking the pledge makes enormous sense because it:
- helps attract and retain top talent, by demonstrating a tangible, purpose-driven company mission
- builds that crucial, narrative about what your company stands for now and for the long term
- connects you to an impressive network of like-minded companies, founders and leaders
- deepens community partnerships that develop long-term value
“Figuring out who you are and why it’s important to give back is very important,” Springer said, “and build credibility with employees, customers and investors.”
Given the state of the world today, mission-driven generosity matters more than ever. As Jules pointed out, a few years from now, not committing to this kind of pledge will be unusual, so taking this action now not only makes the world measurably better but also keeps you ahead of the curve.
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