4 ms·
Sounds like your timing is going to cover this, but if your co-founders know you are leaving then have an obligation to disclose that to potential investors. If
by cmsonger 9y ago
Sounds like your timing is going to cover this, but if your co-founders know you are leaving then have an obligation to disclose that to potential investors. If I were them, I'd want this settled with you and out of the way before fundraising even started. "Hi, we just took your $500k and one of the founders is leaving. Yeah, we knew but didn't tell you." is not a place anyone wants to be.
Forget what's contractually agreed upon and forget what's fair. The cap table affects the company's ability to raise money. That is a reason that founding shares should always include a vesting schedule or expiring "right of repurchase" so that premature departure of a founder does not result in a strange looking cap table.
It's reasonable for investors to say: "Who is this guy who owns X% and what value are they delivering?"
You'll have been there 18 months: 18/48 = 3/8 = .375. .375 * 33 ~= 12.
Your owning 12% is explicable. "He was early, he delivered stuff, that's his initial equity proportional to the time he was in the boat."
Best wishes with it.