network profile
| bio | website | |
|---|---|---|
| location | ||
| age | ||
| visits | member for | 1 year, 2 months |
| seen | Apr 1 at 21:52 | |
| stats | profile views | 4 |
|
Dec 10 |
awarded | Tumbleweed |
|
Dec 3 |
asked | SaaS based on another commercial project |
|
Mar 28 |
awarded | Student |
|
Mar 21 |
comment |
Advice on startup offer, am I reading this right? On thing I forgot to mention is that they wrote upon receiving cash funding of $250k I would get a monthly compensation (enough to live off of) and upon receiving 1M in cash funding a good market rate compensation. |
|
Mar 21 |
awarded | Commentator |
|
Mar 21 |
comment |
Advice on startup offer, am I reading this right? Thanks for your suggestion. Some of the other users suggested around 20% of the shares for the risk and the IP. Is there a reason you suggest the 1-3% fully diluted? |
|
Mar 21 |
comment |
Advice on startup offer, am I reading this right? Thanks for the helpful advice. After talking with the company so far we have ditched the market rate. They have now turned around and offered a 7% stake of the 10M shares. So technically that shouldn't dilute as easily since they are saving shares for investors. However this is still a far cry from the 20% that many have suggested so far. They revised the vesting to 20% of the 7% shares upon proof of concept and the other 80% monthly after until 2 years. What are your thoughts on these revisions? |
|
Mar 13 |
comment |
Advice on startup offer, am I reading this right? Wow, cant believe my math on that one. Thanks for the correction of 0.22% I totally overlooked the decimal. Even a years worth of work would only get me to 0.44% in shares so definitely eye opening. Thanks! |
|
Mar 13 |
comment |
Advice on startup offer, am I reading this right? Thanks for the helpful post. When would anyone buy my 22,000 shares versus them just issuing new stock. Instead of a market rate in stock is there anything I should take back to the table for proposal? Also maybe a vesting schedule that is performance based? |
|
Mar 13 |
comment |
Advice on startup offer, am I reading this right? @AlainRaynaud That is what I am trying to figure out. They said 10 million shares a lot are "non-active" and will be used for future fun raising. So 22000 shares divided by the 10 million gets me to 0.0022%. I dont know enough about this yet to calculate otherwise. |
|
Mar 13 |
comment |
Advice on startup offer, am I reading this right? @Karlson I do get your point about how much they are worth, but right now as you said they are worth nothing. So in order to evaluate this offer with even a fictitious share value, it still doesnt seem right to be a founding type partner or even first employee at 0.0022% so my original question is can that even be right in the first place? |
|
Mar 13 |
comment |
Advice on startup offer, am I reading this right? If the shares are worth nothing until it sells (if/when), and it is not a salary position, then how does one evaluate an offer if not the percentage? Since this would be mainly an equity deal to start should I not be calculating the equity I will be getting as a starting point before dillution? |
|
Mar 13 |
comment |
Advice on startup offer, am I reading this right? Everything is at the negotiation stage now. We talked about everything I mentioned above and the rest is on paper. I have an example agreement which I need to present with my changes and / or requests. My main question is, does that seem like a good offer, at my calculation of 0.0022%? Unless I am miscalculating something but that percentage only to get diluted is merely pennies. |
|
Mar 13 |
comment |
Advice on startup offer, am I reading this right? Also on 1. 2. I thought the point of knowing the shares outstanding was to truly evaluate the offer. With no salary, I don't know of any other way to determine the value of the offer without knowing the percent? Is there another way I should be calculating this if there are "non-active" 10 million shares some of which are non-active. |
|
Mar 13 |
awarded | Editor |
|
Mar 13 |
revised |
Advice on startup offer, am I reading this right? added 2 characters in body |
|
Mar 13 |
comment |
Advice on startup offer, am I reading this right? 1. Wouldnt that dilute that 0.0022% even more? 2. My point about the financing was that they would reemburse as salary or buy back shares or something similar to pay me for the work completed. 3. 4. I would be living on income from other projects so that is why I estimated it at around 40 hour weeks or 160 hours. My time would be spent on other areas. 5. After POC it would be trying to get funding and then working on the full version or leading a team after that. |
|
Mar 13 |
asked | Advice on startup offer, am I reading this right? |
