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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 lata temu·69 comments

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