Anthropic seeks shareholder approval to give founders majority voting control
What's the story
Anthropic, a leading player in the enterprise AI space, is seeking shareholder approval for a new corporate structure. The proposed arrangement would award CEO Dario Amodei and his six co-founders 50.1% of the voting power, according to The Information. This move is similar to Palantir's founder-control structure and would provide the co-founders with a special class of shares that grants them collective voting control over most corporate matters.
Shareholding conditions
Proposed structure effective until 3 co-founders hold minimum shares
The new corporate structure proposed by Anthropic would remain in effect as long as at least three of the seven co-founders hold a minimum number of shares in the company.
However, it's worth noting that this arrangement doesn't cover the election of board members. The board has seven seats, one of which is currently vacant.
Information
Employees to receive special class of stock
Along with the special class of shares for the co-founders, Anthropic is also planning to give employees a special class of stock. This would serve as tie-breaker votes on some corporate issues.
Upcoming IPO
Anthropic's IPO could be one of the largest on record
Anthropic is gearing up for what could be one of the biggest initial public offerings (IPOs) on record.
The company may delay its IPO until after the US midterm elections in November, but this isn't expected to have a major impact on the offering.
In May, Anthropic raised $65 billion at a post-money valuation of $965 billion.