4 ms·

I started my 21 yo company with 2 friends. One we fired after about a year (he was literaly doing nothing). Then the other one and I continued for 6-7 years bef

I started my 21 yo company with 2 friends. One we fired after about a year (he was literaly doing nothing). Then the other one and I continued for 6-7 years before he started working on other projects with an other company. Still, we still holded 50/50 of the shares (which was not a problem due to the way small companies works here). For all this time we stayed friends. And then, 3 years ago he offered me to join him on his new company. And at the end he screwed me. Deeply. Leaving me and our first company in big troubles. So long our 25 years of friendship. The funny part (if any) is that a couple of months ago, he sold me his shares of our company. Not because he felt guilty of any kind. But because, as the company had made a really bad year in 2016, with important loss compared to the size of it, he had to sell the shares to not being a part of a loosing money company to obtain a loan from banks for buying his new house...

confiscate 8y ago
how much did he sell you his shares for, if you don't mind me asking? because it sounded like it's for the first company, not the new one
- JeanMarcS 8y ago
  I didn't had shares in the new one. The deal was to come and help as a contractor first, and then make a holding for the companies (other were involved). But cash wasn't flowing and I soon worked for "free" as I wanted it to rise (my other company still paying me), and the cash promise at the end was very interesting. And at the end they kicked me out. I know I made mistakes continuing doing this, but we were friends for decades so I didn't see it coming. Note that it was not in the startup world, but I told this story because of the friendship side. And about the shares of our first company, he basically give them to me, as he wanted to get rid of them very fast. In fact all the paperwork was done (and dated a month before). The reason I signed them is that I too wanted to buy them back, but was a bit scared of the amount he would ask for it. So in the end there is a positive thing.

confiscate 8y ago

how much did he sell you his shares for, if you don't mind me asking? because it sounded like it's for the first company, not the new one

JeanMarcS 8y ago
I didn't had shares in the new one. The deal was to come and help as a contractor first, and then make a holding for the companies (other were involved). But cash wasn't flowing and I soon worked for "free" as I wanted it to rise (my other company still paying me), and the cash promise at the end was very interesting. And at the end they kicked me out. I know I made mistakes continuing doing this, but we were friends for decades so I didn't see it coming. Note that it was not in the startup world, but I told this story because of the friendship side. And about the shares of our first company, he basically give them to me, as he wanted to get rid of them very fast. In fact all the paperwork was done (and dated a month before). The reason I signed them is that I too wanted to buy them back, but was a bit scared of the amount he would ask for it. So in the end there is a positive thing.