How to Launch a Data Room

Before the advent of virtual data rooms when companies were sold or raised capital, the entity that bought the company would demand financial and historical documents from the seller. The documents were stored in a secure location that the stakeholders could access to examine the documents. Nowadays, these rooms have been replaced with virtual data rooms that make it much easier to share and review documents.

When preparing to launch your data room, it’s important to consider the information you’ll need to include and who you’ll be sharing access with. Depending on where your startup is at, some files are more important than others. For instance, if your company already has a successful track record, investors may require more detailed revenue and cost projections as opposed to if the company is in its early stages.

Once you have decided the items you’ll need, arrange http://dataroomreview.org/preparing-for-a-potential-ipo-best-recommendations/ and upload the files. Create an organizational system that is appropriate for your business and use consistent names to make it easy to locate documents. It is also a good idea to include relevant metadata within the files to provide additional context. Also, group related files together in subfolders, to make it even simpler for users to locate the information they require.

If you’re using the Pro version you can grant access to users after having uploaded all the documents. You can select the document that you want to assign access to, and then select the appropriate groups. Or, click on “Add another group(s),” if you’re required to add new groups.