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$180k is an exorbitant figure. I would question his motives 100%. A CEO at your stage should be someone who is deeply involved with building and selling the pr
by yoseph 14y ago
$180k is an exorbitant figure. I would question his motives 100%.
A CEO at your stage should be someone who is deeply involved with building and selling the product/business (at this stage, your business is your product). What responsibilities do you envisage him having? Also, how much equity is he looking for?
- noinput 14y agoThanks yoseph. We (myself and other co-founder) agree that the goal shouldn't be taking money unless necessary. We envision him 1. leading the co as a Fulltime figure, 2. being available to take all meetings/travel if necessary where the others can't 3. utilize his rolodex to make as many connections as possible and 4. sell what we build. The biggest issue is we don't have a sellable product yet, that's what the round is for. We want to take our POC and convert it to an MVP and possibly more. In terms of equity, we were all honestly fine with taking 1/3 to start, however now this warrants a drastic re-visiting of that, which is why everyones thoughts here are so valuable to me.