Overview: -40K Funding from an investor -Single non-technical founder -Company has a Beta up and running with a few thousand users at 2 universities -Company has 2 existing paid contracts and 3 verbal agreements with other universities -Expected exit within 3 years at 30M Existing Employees: -Part-time Lead Web Developer (10%, 4 yr vesting, built MVP from scratch as original developer) -Part-time Senior Web Developer (2.5%, 4 yr vesting, recent hire) -Full-Time VP of Biz Dev (4%, 4yr vesting + commission, recent hire) Technical Co-Founder: -Full time commitment, would be a true partner, would lead our mobile development and potentially oversee web development as well later on as a CTO -Very strong technical and interpersonal skills -Current salary 230K
Hi — you will need to work out what your potential equity split is for current and future hires/partners/investors are, and then try and work backwards from there. From experience, it is better to have a simple, clear and transparent structure so that everyone involved knows where they stand.
You also need to find out what your Tech Co-Founder is looking for, to keep him/her motivated.
Basically, keep it as simple as possible, and ensure you have sufficient elbow room for whatever comes in the future.
Is your situation already resolved?
Answered 10 years ago
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