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Maybe the founders are already rich, they like the attention, and don't care about padding their bank accounts any more. They do (or should) have a duty to thei
by jliptzin 13y ago
Maybe the founders are already rich, they like the attention, and don't care about padding their bank accounts any more. They do (or should) have a duty to their investors and employees who might feel otherwise though...
- yawz 13y agoEven in the case of rich founders, I think money is such a great enabler that one can take that incredible amount and move on to the next thing (or things). I respect one's decision to brush the money aside and move on towards the big dream but we're talking about 3 billion here :).
- byoung2 13y agoBefore the $3 billion offer, when SnapChat raised $80 million at an $800 million valuation, the founders each took $10 million off the table. The investors probably wrote a clause into the deal giving them the right to approve any acquisition offer [1]. The investors want tens of billions. 1. http://valleywag.gawker.com/source-snapchat-cofounders-unloaded-personal-stock-for-574730704 http://valleywag.gawker.com/source-snapchat-cofounders-unloa...