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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 jaar geleden·69 comments

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biphasic
·2 jaar geleden·discuss
I agree that he wants to rush it before the grant comes in.
biphasic
·2 jaar geleden·discuss
Would be great to chat, how can I contact you?
biphasic
·2 jaar geleden·discuss
Understood! What do you think of the deal? Is it a fair offer?
biphasic
·2 jaar geleden·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 jaar geleden·discuss
Agree with that
biphasic
·2 jaar geleden·discuss
Agree that 1% is too small. Would be happy with 2-3% plus the cash
biphasic
·2 jaar geleden·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 jaar geleden·discuss
I'm interested in coming to an agreement, I have not much to gain in holding on to all my shares.
biphasic
·2 jaar geleden·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 jaar geleden·discuss
I'm trying to push up the stock, but my co-founder is a tough negotiator and adamant
biphasic
·2 jaar geleden·discuss
that is correct. The company needs to build a product more or less from scratch at this point
biphasic
·2 jaar geleden·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.