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Photo: Courtesy of AngelList

AngelList is debuting Transfers, a new service to facilitate secondary stock sales for more mature startups.

Why it matters: Shareholder liquidity continues to be a challenge for startups as companies remain private for many years.

Details: As with its other services, AngelList provides software and all the legal management on the back end to the startup.

  • AngelList also packages all of the new shareholders into one single entity on the cap table to avoid making it messier.
  • Startups can set these up to be recurring as well, if they want to do regular liquidity events for early shareholders — every 12 or 18 months, for example.
  • AngelList generates revenue by charging the companies for executing transactions.

Between the lines: "What started to happen was that some of these late-stage companies wanted the [VC fund] managers on our platform involved with their company but they weren't investors already," Avlok Kohli, CEO of AngelList's venture-focused business, tells Axios of the new service's origin.

  • While AngelList can help find some additional buyers to fill out a transaction if the startups want, it doesn't see itself as a marketplace for startup stock. AngelList intends that customers for this service already have buyers in mind.

Go deeper

Updated 36 mins ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

52 mins ago - Politics & Policy

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.

Coronavirus has inflamed global inequality

Illustration: Aïda Amer/Axios

History will likely remember the pandemic as the "first time since records began that inequality rose in virtually every country on earth at the same time." That's the verdict from Oxfam's inequality report covering the year 2020 — a terrible year that hit the poorest, hardest across the planet.

Why it matters: The world's poorest were already in a race against time, facing down an existential risk in the form of global climate change. The coronavirus pandemic could set global poverty reduction back as much as a full decade, according to the World Bank.