Contracting for LGBT-Owned Business, That First Hire, New Illegal Drug Marketplace: June 27

Illustration by André da Loba

In the wake of the Supreme Court’s gay marriage ruling, Jeremy Quittner reports on efforts to make gay-owned small businesses eligible for federal contracting programs. [Inc.]

Snapchat’s co-founders cashed out $10 million each as part of the company’s recent round of venture capital financing. Dan Primack writes that too much founder liquidity misaligns interests. [Fortune]

Workers at a Chinese factory are holding an American chief executive hostage amid labor negotiations. The CEO, Michael Starnes of Specialty Medical Supply, said the dispute would be resolved soon (video). [Bloomberg News]

Tiny Factory founder Michael Sacca writes that hiring his first startup employee was like having sex for the first time. [Medium]

Adrianne Jeffries reports on an online marketplace for illegal drugs that’s making a big advertising push. [The Verge]

See something we missed? Share the most compelling stories about small business and entrepreneurship by tagging them with #SmallBizReads on Twitter.

Before it's here, it's on the Bloomberg Terminal.