Reynen Court, the so-called app store of law, is reducing its headcount, cutting expenses, and telling vendors on its platform they might experience service delays. But Andrew D. Klein, the company’s founder and CEO, denied that the company is going out of business or discontinuing support for its platform, and he said he is seeking new investment capital to help the company manage through the economic downturn.
The news comes two months after Reynen Court launched an online stock offering to bring on individual lawyers and “legal technology enthusiasts” as investors in the company, on top of some $20 million in venture financing the company had already raised, including a $4.3 million round earlier this year.
Reynen Court has now discontinued the online stock offering.
“We were pleased with the reception to our stock offering,” Klein told me by email. “However, we recently made the decision to pull the transaction after realizing that