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?