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I am in a similar situation, where I am 'founding' a company where my cofounder is fronting the money and has the sales contacts to make our venture happen. I a
by phlux 16y ago
I am in a similar situation, where I am 'founding' a company where my cofounder is fronting the money and has the sales contacts to make our venture happen. I am doing all the design, planning and development (hiring a dev team).
I require 10% preferred with up-to an additional 10% common in addition to a monthly salary (we are still negotiating the salary)
If I were you, I wouldnt take anything less than 10%
Here is what you should think about:
Assuming that you will need to go get a series A from VC if your venture gets momentum; you're really talking about splitting up 40% of the company. So at max - your share would be ~20%
As he is fronting the money - and may not need VC, therefore keeping the 60-80% yet your founding and BUILDING the thing, upto 20% is perfectly reasonable and fair.
I would ask for a mix of common and preferred - with a set min of preferred that you want.