Andreessen Horowitz and lawyer Ted Wang launch Series Seed Documents, templated documents which entrepreneurs can use for seed-stage deals. Andreessen Horowitz is the first to agree to use the documents. Andreessen says:
We want to make the process as transparent as possible, which is to say, we want to take all the mystery out it. And it is online for everyone to understand.
The documents are designed for early rounds between $500,000 and $1 million.