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Community Manager
Community Manager
VP, Member Impact, Pledge 1%
Jager McConnell, CEOJager McConnell, CEO

Transferred 1% of equity via warrants directly to corporate donor-advised fund (DAF).

“Our mission is to help democratize access to opportunities. We believe that if we can help level the playing field, or at least raise awareness for the fact that the field isn’t level, then we can begin to affect change” 

• Pledge 1% member: since October 2018 (Builder)

Pledge Types: Equity, Time, Product

Stage: Private, Series C







Timing of commitment: 

Between Series B & C





Equity source: 

Corporate: 1% Upfront Model

Funding  schedule:  

One-time grant of equity to DAF; Scheduled sale over 5 years.


Investor dilution:  

1% upfront (time of warrant)

% Upfront:   

100% (warrants legally binding; impact secured)


“Top off”:  



Donor-advised fund: 

Yes- Tides





Crunchbase CEO Jager McConnell was no stranger to the Pledge 1% model having spent 11 years of his career at Salesforce. Jager had experienced firsthand the powerful impact that a model like Pledge 1% can have on a company’s culture and success.  He believed deeply that by integrating social impact into the DNA of Crunchbase, the company could leverage its assets (beyond equity) in unique ways to be a force for good.  To that end, Jager wanted to be absolutely certain that the equity model Crunchbase selected fully protected the company’s social impact legacy regardless of their pathway to liquidity. 




Jager jumped into Pledge 1% full force. Not only did Crunchbase become a member, they immediately signed up to be a leader in the Pledge 1% movement via the Builders program. Crunchbase leveraged their product pledge to integrate Pledge 1% into their platform. Specifically, they used their platform to highlight member companies who are giving back. In 2018, Jager got Board approval for a 1% equity pledge.





In February 2019, Crunchbase issued a warrant to Tides (DAF provider) to purchase up to 534,661 shares of common stock (1% of shares then outstanding) at an exercise price of $0.01 per share. Crunchbase implemented a scheduled sale, spreading the sale of the shares over a period of 5 years. This will enable Crunchbase’s social impact fund to benefit from the hopeful rise in Crunchbase’s stock over time.


Pros/Cons of This Approach


 ✓  Locks in social impact legacy (legally binding; cannot be altered with change of leadership or ownership; full 1% upfront)

 ✓ Simpler execution. No annual Board vote 


⌧ Full 1% shareholder dilution felt upfront

⌧ Potential for social impact fund dilution (as company has future funding rounds)