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If the rumours are true on GM acquisition of Cruise for >$1bn it's a major home run for YC; founder Kyle Vogt’s second YC unicorn (after Twitch) and third YC ex
by ig1 11y ago
If the rumours are true on GM acquisition of Cruise for >$1bn it's a major home run for YC; founder Kyle Vogt’s second YC unicorn (after Twitch) and third YC exit (after SocialCam).
(Twitch and Cruise will be the only two YC unicorns to have exited and Kyle is co-founder of both. I imagine he'll soon have a queue of VCs lining up to fund his next thing....)
- BinaryIdiot 11y ago> I imagine he'll soon have a queue of VCs lining up to fund his next thing.... That's assuming he's not going to continue working on Cruise at GE. I would suspect he'll work on it for at least a year or two though depending on how passionate he is about it he may just stay at GE for along time.
- ig1 11y agoNormally acquisitions requires key employees to contractually commit to staying for a minimum period after the acquisition. It's fairly common for founders to leave after this period though.
- chatmasta 11y agoI suspect the vesting schedule of his GM options will impact his decision making more than mere passion. ;) Speaking of, what does a typical vesting schedule look like in stock-based acquisitions? Is it always negotiable or is there an industry standard? I assume it's not the same 4/1 used in normal employee options, or else no founder would sell to a company requiring him to work four years to realize the full value of the acquisition.
- hkmurakami 11y agoThere's no standard. It can be anywhere from 1-4 years with various cliff terms.
- replicatorblog 11y agoI imagine he'll have a queue of VC firms looking to bring him on as a partner :)