Type of business Private Motto "Simply Legal" | Slogan(s) "Simply Legal" Founded 2012 | |
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Key people Abe Geiger, CEOJon Steinberg, Board MemberStuart Ellman, Board MemberJared Grusd, Board Member Founders Jared Grusd, Jon Steinberg, Abe Geiger, Stuart Ellman | ||
Shake is a New York-based legal technology startup company. Its primary product is the Shake app which offers individuals the ability to create, sign and send legally binding agreements through their iOS devices. As of April 2014, the app is only available for the iPhone.
Contents
The Shake Law app includes a library of simple, plain-English legal agreements that can be executed via a mobile device. It includes a number of stock contract templates pertaining to Freelancing/Independent Contractors, Non-Disclosure Agreements, Buying and Selling, Rental of Goods, and Personal Loans. After selecting a template, a user then customizes it by answering a series of questions.
Tiny Law
Shake's primary focus is on the "Tiny Law" sector, a term believed to have been coined by Shake CEO Abe Geiger at the 2014 Reinvent Law Conference. Tiny Law refers to individuals such as freelancers and small businesses that require legal services for small figure transitions and who might be traditionally reluctant to seek legal representation due to cost.
History
Shake was founded in 2012. The original idea for Shake came from Jon Steinberg, president of Buzzfeed, and Jared Grusd, General Council for Spotify and an adjunct professor at Columbia Business School. The two men connected with RRE Ventures’ Stuart Ellman (who also teaches at Columbia) and told him about an idea they had for a business aimed at simplifying legal contracts. Ellman, introduced them to, Abe Geiger, a student in his Venture Capital class who was working on his own legal startup idea. The four men decided to join forces and cofound Shake with the intent on simplifying and modernizing the legal contract process.
Business Model
Shake is a freemium product. The app is free, but Geiger has said that they will eventually monetize by adding premium features and/or services.
Usage
As of September 2013, the Shake app has been downloaded over 80,000 times and has been used to create and sign $15 million worth of legal agreements.