I joined a start up which had a 2mm valuation (only based on conv. notes language) prefunding/pre-rev/prewebsite with 2 full time employees (one being the founder), 3 founders and some free interns. I quit a 80k job at a top firm to pursue my entrepreneurial goals. I worked for free for 3 months prior to any equity convo to do w.e is necessary such as data entry/project management/customer services/customer acquisition. Now the equity convo is being introduced and a 1% equity was the offer. I believe I am getting screwed because we are prefunded, I am the 4th real employee and I have already contributed to the actual product, the CEO is also asking for me to move countries (free housing), recieve no salary, and lead the sales team should I renogiate/walk or am I in the wrong?
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I hate to say it, but if you left without some kind of contract/writing in place about what you were entitled to, then I'm not sure how much you can do about the situation. I can't advise you as this sounds like bit of a legal issue (especially if they ask you to relocate). I'd say work it out: renegotiate or hit your local directory for a lawyer and see what your options are. |
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