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biphasic

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CTO / cofounder exit deal after 1.5y at 600k revenue without SHA

46 points·by biphasic·2 anni fa·69 comments

comments

biphasic
·2 anni fa·discuss
I agree that he wants to rush it before the grant comes in.
biphasic
·2 anni fa·discuss
Would be great to chat, how can I contact you?
biphasic
·2 anni fa·discuss
Understood! What do you think of the deal? Is it a fair offer?
biphasic
·2 anni fa·discuss
Would agree if it wasn't for employee stock pool and first founding round this year which is already going to make the 1% more like 0.65
biphasic
·2 anni fa·discuss
Agree with that
biphasic
·2 anni fa·discuss
Agree that 1% is too small. Would be happy with 2-3% plus the cash
biphasic
·2 anni fa·discuss
> You have already realised the biggest value of that company; lessons about what to look for in a future co-founder, how to run a company and build a product.

Agree with that, I now know what to look for if I started a new venture. Thanks a lot for sharing your story!
biphasic
·2 anni fa·discuss
I'm interested in coming to an agreement, I have not much to gain in holding on to all my shares.
biphasic
·2 anni fa·discuss
because he has a 2/3 majority, he can lift my rights for preferential subscription, which means I don't get the chance to buy them. He could issue new shares at a really low price and buy them himself.
biphasic
·2 anni fa·discuss
I'm trying to push up the stock, but my co-founder is a tough negotiator and adamant
biphasic
·2 anni fa·discuss
that is correct. The company needs to build a product more or less from scratch at this point
biphasic
·2 anni fa·discuss
Because he had started to develop contacts one year before and argued that the CEO needs more power, and I was naïve and went with it.