How to Launch a Data Room
Before the advent of virtual datarooms when a company was sold or capital raised, the entity which acquired the company would request the seller for documents regarding the financial history and historical. This information was stored in a safe room where stakeholders could access it to examine the documents. Nowadays, these information rooms have been replaced with virtual data rooms that make it easier to share and examine documents.
In the process of launching your data room, it’s essential to think through what you’ll need to put in and who you will be sharing access with. Depending on the stage at which your startup, certain documents might be more important than others. Investors might be more interested in specific projections of revenue and costs in the event that your company has a proven history of success.
After you’ve decided what you want to include in your file then organize it and upload it. Create an organization structure that is suitable for your company, and use consistent names to ensure that the documents are easy to locate. You can also add metadata to give the files more context. Group related launch a data room files in subfolders so that users can find the information they are seeking.
If you’re using the Pro version you can grant access to users after having uploaded all files. You can choose specific documents and select the appropriate access groups or click on ‘Add more group(s)’ to add a new group.