Investor Relations

Investment Funds Claiming to Have Access to Clippable

Clippable is privately owned, and as such investment in Clippable stock is only available to a small number of investors, most of whom are well known to us.

We have become aware of certain investment funds that do not own any Clippable stock claiming to offer retail investors access to Clippable. The basic premise tends to be something like, "you can't get direct access to Clippable, but invest in us and we will get it for you." And yet, these firms do not themselves have access to Clippable stock. If these funds claim to have found a way to indirectly invest in Clippable via others who do own Clippable stock, we cannot vouch for the legality of their claims or the value of their supposed investments. Indeed, if they are relying on "forward" contracts or other mechanisms that attempt to circumvent the rights of first refusal, transfer restrictions, and other terms and conditions applicable to investment in Clippable stock, their investments may have no value at all.

To be clear, Clippable does not currently offer opportunities for retail investors to invest in the company, nor does it offer equity investments or debt instruments (such as bonds) through third-party brokers or other agents, nor are the majority of Clippable shareholders permitted to transfer their shares without Clippable's consent. As such, any offer to invest in Clippable that does not come from or through Clippable is very likely a scam.

There is a long history of bad actors attempting to scam retail investors by offering fake and fraudulent opportunities to invest in prominent private technology companies. We encourage anyone who receives outreach from third parties offering them opportunities to invest in "pre-IPO Clippable shares," "Clippable shares," "Clippable stock," or "Clippable equity" to exercise caution. If you believe you were the target of such outreach, consider contacting your local law enforcement, securities regulator, or if in the US, the SEC to report the matter. You can read more about investment scams like these on the SEC and FINRA investor alerts page.

We sometimes become aware of individuals or companies offering apparently fraudulent investment opportunities in Clippable. We'll plan to update this page directly with names of these firms.

To be clear, we can not speak to the legitimacy of every person or company using these names, and are not saying that every firm using these names is fraudulent. All we know is that we have become aware of apparently fraudulent schemes being undertaken using these names. Also, this is not an exhaustive list and there may be others out there fraudulently presenting themselves as sellers of Clippable stock. Therefore, please use caution, do not assume anything, and conduct your own due diligence if anyone approaches you purporting to be a seller of Clippable stock.

If you have concerns about a fund that is claiming to have access to Clippable stock and marketing that access, please contact us at [email protected].

Clippable Forward Contracts and Other Unauthorized Liquidity Transactions

Almost all stock owned by current and former Clippable employees is subject to a right of first refusal (ROFR). This means that shares can only be sold if the seller first offers Clippable the opportunity to repurchase the stock, or to assign the sale to a buyer of Clippable's choosing. Any attempted sale that does not follow this requirement is void. Most employee stock is also subject to outright transfer restrictions, meaning, separate from the ROFR, any attempted transfer that is not authorized by Clippable's board of directors is void.

We are aware of firms that aggressively market unauthorized "forward" contracts and other forms of purported share liquidity to current and former Clippable employees. Clippable does not endorse or participate in any of these transactions, and they are subject to the terms of ROFRs and transfer restrictions applicable to most employee stock. These firms may require employees to sign an NDA just to see the terms of the contract (i.e., it would appear they are trying to hide the transaction from Clippable, presumably because they are aware that it is subject to a ROFR and transfer restrictions.

To be clear, transactions in which a current or former Clippable employee receives payment now and promises to transfer shares directly or indirectly in the future are subject to ROFRs and transfer restrictions. This means, among other things, that at the time the transaction is "closed out" Clippable is entitled to step in and repurchase the shares that are subject to the contract at the original price paid by the buyer. We intend to vigorously enforce our ROFR rights with respect to all such contracts. If any firm believes this misstates the application of ROFRs or transfer restrictions to any contract they have entered into with a holder of Clippable stock, we invite them to share with us the documents governing the transaction, and we will be happy to provide our views on them. If you are a current or former Clippable employee, you are expected to abide by all ROFRs and transfer restrictions you have agreed to.