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Good idea but this would require us to wait till we raise funding, and therefore have a valuation. We are wondering if there is a way to resolve this right now
by mistakes 16y ago
Good idea but this would require us to wait till we raise funding, and therefore have a valuation. We are wondering if there is a way to resolve this right now so that it doesn't complicate an already complicated fundraising process.
- cgherb911 16y agoHave you pitched any VC's or angels? What premoney are you giving them? If you don't have a premoney, then cut him a fair salary for the time he worked in a convertible note. The convertible note will be the optimal way to have a nice looking cap table. I just suggest that you deal with this matter quickly while everyone is in a good mood. Success in a business after someone leaves can be dangerous...
- mistakes 16y agoAgreed that we need to deal with this matter quickly. Thank you for your advice.