Schedule 13D Page 1 of 20
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SEC 1746 Potential persons who are to respond to the collection of information
(2-98) contained in this form are not required to respond unless the form
displays a currently valid OMB control number.
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UNITED STATES -------------------------
SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
Washington, D.C. 20549 -------------------------
OMB Number: 3235-0145
SCHEDULE 13D -------------------------
Expires: October 31, 2002
Under the Securities Exchange Act of 1934 -------------------------
Estimated average burden
hours per response 14.9
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SABA SOFTWARE, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
784932105
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(CUSIP Number)
Barbara Russell
3000 Sand Hill Road
Building 4, Suite 280
Menlo Park, CA 94025
(650) 854-3927
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
10/01/02
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See 240.13d-7 for other parties
to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Schedule 13D Page 2 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Sequoia Capital IX
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1)
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization Delaware
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Number of 7. Sole Voting Power
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 868,720
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 868,720
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 868,720
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 1.8%
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14. Type of Reporting Person (See Instructions)
PN
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Schedule 13D Page 3 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Sequoia Capital IX Principals Fund
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1)
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization Delaware
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Number of 7. Sole Voting Power
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 160,348
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 160,348
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 160,348
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 0.3%
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14. Type of Reporting Person (See Instructions)
OO
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Schedule 13D Page 4 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Sequoia Capital Entrepreneurs Fund
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1)
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization Delaware
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Number of 7. Sole Voting Power
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 133,720
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 133,720
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 133,720
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 0.3%
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14. Type of Reporting Person (See Instructions)
PN
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Schedule 13D Page 5 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
SC IX Management LLC
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1)
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization Delaware
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Number of 7. Sole Voting Power
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 1,162,788
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 1,162,788
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,162,788
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 2.4%
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14. Type of Reporting Person (See Instructions)
OO
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Schedule 13D Page 6 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Sequoia Capital Franchise Fund
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1)
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization Delaware
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Number of 7. Sole Voting Power
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 3,069,767
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 3,069,767
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 3,069,767
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 6.3%
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14. Type of Reporting Person (See Instructions)
PN
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Schedule 13D Page 7 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Sequoia Capital Franchise Partners
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1)
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization Delaware
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Number of 7. Sole Voting Power
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 418,604
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 418,604
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 418,604
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 0.9%
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14. Type of Reporting Person (See Instructions)
PN
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Schedule 13D Page 8 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
SCFF Management LLC
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1)
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization Delaware
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Number of 7. Sole Voting Power
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 3,488,371
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 3,488,371
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 3,488,371
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 7.2%
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14. Type of Reporting Person (See Instructions)
OO
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Schedule 13D Page 9 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Michael Goguen
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1)
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization USA
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Number of 7. Sole Voting Power
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 4,651,159
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 4,651,159
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 4,651,159
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 9.6%
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14. Type of Reporting Person (See Instructions)
IN
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Schedule 13D Page 10 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Mark Kvamme
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1), PF (2)
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization USA
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Number of 7. Sole Voting Power 5,174
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 1,162,788
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power 5,174
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 1,162,788
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,167,962
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 2.4%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
IN
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Schedule 13D Page 11 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Douglas Leone
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1), PF (2)
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
--------------------------------------------------------------------------------
6. Citizenship or Place of Organization USA
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Number of 7. Sole Voting Power 119,788
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 4,651,159
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power 119,788
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 4,651,159
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 4,770,947
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 9.8%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
IN
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Schedule 13D Page 12 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Michael Moritz
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions) OO (1), PF (2)
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
--------------------------------------------------------------------------------
6. Citizenship or Place of Organization USA
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Number of 7. Sole Voting Power 468,864 (3)
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 4,651,159
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power 468,864 (3)
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 4,651,159
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 5,120,023
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 10.5%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
IN
--------------------------------------------------------------------------------
Schedule 13D Page 13 of 20
CUSIP No. 782934105
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1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Mark Stevens
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions) OO (1), PF (2)
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
--------------------------------------------------------------------------------
6. Citizenship or Place of Organization USA
--------------------------------------------------------------------------------
Number of 7. Sole Voting Power 440,470
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power 4,651,159
Owned by ------------------------------------------------------------
Each 9. Sole Dispositive Power 440,470
Reporting ------------------------------------------------------------
Person With 10. Shared Dispositive Power 4,651,159
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 5,091,629
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 10.5%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
IN
--------------------------------------------------------------------------------
Notes
(1) Investment funds from investors in holding entities were used to acquire
those shares of Common Stock over which the Reporting Person has shared
voting and dispositive power.
(2) Personal funds were used to acquire those shares of Common Stock over which
the Reporting Person has sole voting and dispositive power.
(3) Includes 20,000 shares of Common Stock issuable within 60 days upon the
exercise of options to purchase Common Stock.
Schedule 13D Page 14 of 20
Item 1. Security and Issuer
The title of the class of securities to which this Schedule 13D relates is
the common stock, par value $0.001 per share (the "Common Stock"), of Saba
Software, Inc., a Delaware corporation (the "Issuer"), with its principal
executive offices at 2400 Bridge Parkway, Redwood Shores, California 94065-1166.
Item 2. Identity and Background
(a) This Schedule 13D is being filed on behalf of entities Sequoia Capital
IX, Sequoia Capital IX Principals Fund, Sequoia Capital Entrepreneurs
Fund, SC IX Management LLC, Sequoia Capital Franchise Fund, Sequoia
Capital Franchise Partners and SCFF Management LLC and individuals
Michael Goguen, Mark Kvamme, Douglas Leone, Michael Moritz and Mark
Stevens (each reporting individual, a "Reporting Individual," and each
reporting entity or individual, a "Reporting Person"). The Reporting
Persons are making this single, joint filing because they may be
deemed to constitute a "group" within the meaning of Section 13(d)(3)
of the Act, although neither the fact of this joint filing nor
anything contained herein shall be deemed an admission by any
Reporting Person that such a "group" exists. The agreement among the
Reporting Persons to file jointly is attached hereto as Exhibit 1.
Each Reporting Person disclaims beneficial ownership of all shares of
Common Stock other than those reported herein as being owned by such
Reporting Person.
(b) The business address of each Reporting Person is 3000 Sand Hill Road,
Building 4, Suite 280, Menlo Park, California 94025.
(c) Each Reporting Individual is engaged through venture capital
investment entities in acquiring, holding and disposing of interests
in various companies for investment purposes. Each entity that is a
Reporting Person is a venture capital investment entity. Michael
Moritz is on the Board of Directors of the Issuer. Except as set forth
below, each of the Reporting Individuals is a managing member of the
limited liability corporations that are the general partners of the
following entities ("Holding Entities") that hold shares of Common
Stock:
Schedule 13D Page 15 of 20
Name of Holding Entity Name of General Partner Name of Managing Members
of the General Partner
---------------------- ----------------------- -----------------------------
Sequoia Capital IX SC IX Management LLC Michael Goguen, Mark Kvamme,
Douglas Leone, Michael Moritz
and Mark Stevens
Sequoia Capital IX Principals Fund SC IX Management LLC Michael Goguen, Mark Kvamme,
Douglas Leone, Michael Moritz
and Mark Stevens
Sequoia Capital Entrepreneurs Fund SC IX Management LLC Michael Goguen, Mark Kvamme,
Douglas Leone, Michael Moritz
and Mark Stevens
Sequoia Capital Franchise Fund SCFF Management LLC Michael Goguen, Douglas Leone,
Michael Moritz and Mark Stevens
Sequoia Capital Franchise Partners SCFF Management LLC Michael Goguen, Douglas Leone,
Michael Moritz and Mark Stevens
(d) None of the Reporting Persons have during the past five years been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) None of the Reporting Persons have during the past five years been a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
(f) The Reporting Individuals are all United States citizens. Each Reporting
Person that is an entity was organized in the state of Delaware.
Item 3. Source and Amount of funds or Other Consideration
The source of the funds used to purchase the shares of Common Stock for
which the Reporting Persons share voting and dispositive power, as set forth in
rows seven through ten of the cover pages hereof, are investment funds provided
to the Holding Entities by investors. The Holding Entities purchased such shares
under the following agreements: (i) the Securities Purchase Agreement by and
among the Issuer and buyers Sequoia Capital IX, Sequoia Capital Entrepreneurs
Fund, Sequoia Capital Franchise Fund and Sequoia Capital Franchise Partners,
dated effective as of October 1, 2002 (the "Securities Agreement"), pursuant to
which the buyers purchased an aggregate of 4,302,323 shares of Common Stock for
an aggregate purchase price of $9,249,994.45; and (ii) the Stock Purchase
Agreement by and among Bobby Yazdani and purchasers Sequoia Capital IX and
Sequoia Capital IX Principals Fund, dated effective as of October 1, 2002,
pursuant to which the purchasers purchased an aggregate of 348,836 shares of
Common Stock for an aggregate purchase price of $749,997.40.
The sources of the funds used to purchase the shares of Common Stock for
which the Representative Persons have sole voting and dispositive power (which
shares were purchased at an earlier date), as set forth in rows seven through
ten of the cover pages hereof, were their respective personal funds.
-15-
Schedule 13D Page 16 of 20
Item 4: Purpose of Transaction
The Reporting Persons have acquired the shares of Common Stock for
investment purposes. The Reporting Persons may from time to time acquire
additional shares of Common Stock or dispose of shares of Common Stock through
open market or privately negotiated transactions, or otherwise, depending on
existing market conditions and other considerations discussed below. Each of the
Reporting Persons intends to review its investment in the Issuer on a continuing
basis and, depending upon the price and availability of shares of the Common
Stock, subsequent developments affecting the Issuer, the Issuer's business and
prospects, other investment and business opportunities available to such
Reporting Person, general stock market and economic conditions, tax
considerations and other factors considered relevant, may decide at any time to
increase, or to decrease, the size of its investment in the Issuer.
Other than as indicated above, the Reporting Persons have no present plans
or proposals which relate to or would result in any of the following: (i) the
acquisition of additional securities of the Issuer, or the disposition of
securities of the Issuer; (ii) an extraordinary corporate transaction, such as a
merger, reorganization or liquidation, involving the Issuer or any of its
subsidiaries; (iii) a sale or transfer of a material amount of assets of the
Issuer or any of its subsidiaries; (iv) any change in the present Board of
Directors or management of the Issuer, including any plans or proposals to
change the number or term of directors or to fill any existing vacancies on the
Issuer 's Board of Directors; (v) any material change in the present
capitalization or dividend policy of the Issuer; (vi) any other material change
in the Issuer's business or corporate structure; (vii) any change in the
Issuer's charter, bylaws or instruments corresponding thereto or other actions
which may impede the acquisition of control of the Issuer by any person; (viii)
causing a class of securities of the Issuer to be delisted from a national
securities exchange or to cease to be authorized to be quoted in an inter-dealer
quotation system of a registered national securities association; (ix) a class
of equity securities of the Issuer becoming eligible for termination of
registration pursuant to Section 12(g)(4) of the Act; or (x) any action similar
to any of those enumerated in the foregoing clauses (i) through (ix). The
Reporting Persons do, however, reserve the right in the future to adopt such
plans or proposals subject to compliance with applicable regulatory
requirements.
-16-
Schedule 13D Page 17 of 20
Item 5. Interest in Securities of the Issuer
(a) For each of the Reporting Persons, the aggregate number of shares of Common
Stock beneficially owned and the percentage of Common Stock beneficially
owned based upon 48,570,186 shares of Common Stock outstanding as of
September 25, 2002, as represented and warranted by the Issuer in the
Securities Agreement, is as follows:
Name Shares Beneficially Owned Percentage
----------------------------------- --------------------------- ---------------
Sequoia Capital IX 868,720 (1) 1.8%
Sequoia Capital IX Principals Fund 160,348 (1) 0.3%
Sequoia Capital Entrepreneurs Fund 133,720 (1) 0.3%
SC IX Management LLC 1,162,788 (1) 2.4%
Sequoia Capital Franchise Fund 3,069,767 (1) 6.3%
Sequoia Capital Franchise Partners 418,604 (1) 0.9%
SCFF Management LLC 3,488,371 (1) 7.2%
Michael Goguen 4,651,159 (1) 9.6%
Mark Kvamme 1,167,962 (2) 2.4%
Douglas Leone 4,770,947 (3) 9.8%
Michael Moritz 5,120,023 (3)(4) 10.5%
Mark Stevens 5,091,629 (3) 10.5%
Notes
-----
(1) Shared voting and dispositive power over all indicated shares of
Common Stock.
(2) Reflects 1,162,788 shares of Common Stock over which the
Reporting Person has shared voting and dispositive power.
(3) Reflects 4,651,159 shares of Common Stock over which the
Reporting Person has shared voting and dispositive power.
(4) Includes 20,000 shares of Common Stock issuable within 60 days
upon the exercise of options to purchase Common Stock.
(b) The number of shares of Common Stock as to which each of the Reporting
Persons has sole or shared power to vote, direct the vote, dispose or
direct the disposition are as set forth in rows seven through ten of
the cover pages hereof.
(c) Except as set forth in Item 3 above, no transactions in the Common
Stock were effected during the past sixty days by the Reporting
Persons.
-17-
Schedule 13D Page 18 of 20
(d) No person other than the Reporting Persons is known to have the right
to receive or the power to direct the receipt of dividends from, or
the proceeds from the sale of, any securities owned by any member of
the group.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
Except as set forth herein, the Reporting Persons do not have any
contracts, arrangements, understandings or relationships (legal or otherwise)
with respect to any securities of the Issuer, including but not limited to
transfer or voting of any of the securities, finder's fees, joint ventures, loan
or option arrangements, puts or calls, guarantees of profits, division of
profits or loss, or the giving or withholding of proxies.
Item 7. Material to Be Filed as Exhibits
Exhibit 1. Joint Filing Agreement dated as of October 10, 2002, by and among
Sequoia Capital IX, Sequoia Capital IX Principals Fund, Sequoia
Capital Entrepreneurs Fund, SC IX Management LLC, Sequoia Capital
Franchise Fund, Sequoia Capital Franchise Partners, SCFF
Management LLC, Michael Goguen, Mark Kvamme, Douglas Leone,
Michael Moritz and Mark Stevens.
-18-
Schedule 13D Page 19 of 20
Signatures
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: October 10, 2002
Sequoia Capital IX Sequoia Capital Franchise Fund
Sequoia Capital Entrepreneurs Fund Sequoia Capital Franchise Partners
Sequoia Capital IX Principals Fund
By: SC IX Management LLC By: SCFF Management LLC
A Delaware Limited Liability Company A Delaware Limited Liability Company
General Partner of each General Partner of each
and on behalf of SC IX Management LLC and on behalf of SCFF Management LLC
for itself for itself
By: Its Managing Members By: Its Managing Members
and as individuals
/s/ Michael Goguen /s/ Michael Goguen
------------------------------------- ------------------------------------
Michael Goguen Michael Goguen
/s/ Mark Kvamme /s/ Douglas Leone
------------------------------------- ------------------------------------
Mark Kvamme Douglas Leone
/s/ Douglas Leone /s/ Michael Moritz
------------------------------------- ------------------------------------
Douglas Leone Michael Moritz
/s/ Michael Moritz /s/ Mark Stevens
------------------------------------- ------------------------------------
Michael Moritz Mark Stevens
/s/ Mark Stevens
-------------------------------------
Mark Stevens
Attention: Intentional misstatements or omissions of fact
constitute Federal criminal violations (See 18 U.S.C. 1001)
-19-
Schedule 13D Page 20 of 20
EXHIBIT 1
JOINT FILING AGREEMENT
The undersigned hereby agree that the foregoing statement on Schedule 13D
is, and any amendments thereto executed by each of us shall be, filed on behalf
of each of the undersigned without the necessity of filing additional joint
filing agreements. The undersigned acknowledge that each shall be responsible
for the timely filing of such amendments, and for the completeness and accuracy
of the information concerning it contained therein, but shall not be responsible
for the completeness and accuracy of the information concerning the others,
except to the extent that it knows or has reason to believe that such
information is inaccurate. This Agreement may be executed in any number of
counterparts, all of which taken together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the
10th day of October, 2002.
Sequoia Capital IX Sequoia Capital Franchise Fund
Sequoia Capital Entrepreneurs Fund Sequoia Capital Franchise Partners
Sequoia Capital IX Principals Fund
By: SC IX Management LLC By: SCFF Management LLC
A Delaware Limited Liability Company A Delaware Limited Liability Company
General Partner of each General Partner of each
and on behalf of SC IX Management LLC and on behalf of SCFF Management LLC
for itself for itself
By: Its Managing Members By: Its Managing Members
and as individuals
/s/ Michael Goguen /s/ Michael Goguen
------------------------------------- ------------------------------------
Michael Goguen Michael Goguen
/s/ Mark Kvamme /s/ Douglas Leone
------------------------------------- ------------------------------------
Mark Kvamme Douglas Leone
/s/ Douglas Leone /s/ Michael Moritz
------------------------------------- ------------------------------------
Douglas Leone Michael Moritz
/s/ Michael Moritz /s/ Mark Stevens
------------------------------------- ------------------------------------
Michael Moritz Mark Stevens
/s/ Mark Stevens
-------------------------------------
Mark Stevens
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