Our portfolio company Kickstarter became a Public Benefit Corporation in the fall of 2015. I blogged about it at the time. A Public Benefit Corporation (PBC) is a specific type of corporation that allows for public benefit to be a charter purpose in addition to the traditional corporate goal of maximizing profit for shareholders (from Wikipedia).
One of the requirements of being a PBC is that you publish an Annual Benefit Statement after each full year as a PBC. Kickstarter published its first Annual Benefit Statement yesterday. You can read it here.
Here are some bits from the statement:
I would encourage you all to read the entire statement. It stayed with me all day yesterday. I am proud to be a Director and investor in Kickstarter which is showing the world that you don’t need to choose between making money and doing right. You can do both at the same time.