Rippling CEO Parker Conrad has seen how the venture-capital game works. He thinks a pitch memo works much better than a pitch deck. Here's why.
, Conrad did not admit or deny violating federal securities laws. With Rippling, Conrad is trying to bounce back, offering what he says is a the next step in the evolution of workforce software that began with Zenefits.
"As an entrepreneur you'd love to be able to cast a wider net," he said. But, he continued,"the hours in the day limits how many of those interactions you can have." Typically, before the partners meet to discuss the investment, the one sponsoring the deal types up a memo to circulate to his or her fellow partners describing the company and the investment opportunity, he said. It's not unusual that the night before the general partners meet to discuss an investment, the one sponsoring the deal is up late frantically trying to put together his or her memo, he said.
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