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I'm not sure that she - the founder - is lying in this presentation (though she fails to mention her technical cofounder). I think it's more that the title of

I'm not sure that she - the founder - is lying in this presentation (though she fails to mention her technical cofounder). I think it's more that the title of this submission, which was presumably not made by her, was inaccurate (and has since been changed to its current title which is more accurate). Lots of companies screw their technical cofounders. I was the technical cofounder of a company that was later acquired, but never received the $12.8 million check I was supposed to and didn't have the resources to fight back against a maniacal cofounder flush with $60+ million in new cash from the acquisition. That doesn't mean that others can't learn from the company's story, even if only told selectively. It just means that the people that wound up in charge are perhaps not the kind of people you would want to do business with.

chasing 13y ago
> I was the technical cofounder of a company that was later acquired, but never received the $12.8 million check I was supposed to and didn't have the resources to fight back against a maniacal cofounder flush with $60+ million in new cash from the acquisition. Not to derail, but let's hear that story. Seems like hiring a lawyer would be a no-brainer if you were due $12.8m.
- UweSchmidt 13y ago
  My bet is that he's already explored that avenue, and that the business relationship was not properly specified in writing and that it's the unsolvable "my word against your word" problem now. Hoping that everyone get's that right the first time is of course illusional; may you all learn that lesson by being screwed out of a moderate 4 digit amount early in your careers!
- downandout 13y ago
  It's a long story, but I am still in the process of pursuing it legally. When I first learned of the acquisition, I didn't have the resources to pursue it, and even today don't have millions sitting around to pay attorneys. I sent a letter to the acquiring company explaining the situation and demanding that I receive my cut, and they actually responded with an extortionate threat in writing. We are now pursuing a civil federal extortion case against both the acquirer and my cofounder. But, as of this moment, despite my name being on the company's first and primary patent, having written all of its initial code, having envisioned the entire concept of the company myself, and even having named the company, I have seen exactly $0 from an acquisition I was supposed to receive 20% of. Even better, with $60 million in his pocket, my womanizing, alcoholic, conniving cofounder suddenly found Jesus and now fancies himself a televangelist of sorts. At last contact with him, he was "praying for me". Go figure. So yeah, be careful when working with others. My cofounder would have been considered by anyone that looked at him to be beyond reproach. He was not.
  - imdsm 13y ago
    Any name?
    - downandout 13y ago
      I probably shouldn't say here, but since I've posted the info before here years ago, I guess it doesn't really matter. http://anakam.com http://anakam.com (redirects to Equifax, who bought the company and tried to extort me, original company was Anakam LLC).
      - Kluny 13y ago
        As much as I'm interested and curious to hear the details, I really wish you would delete all the comments you've made about this. I would hate it if they were able to convince a judge that your case is invalid based on something careless you said on the internet.
  - deleted 13y ago
    [deleted]
  - beachstartup 13y ago
    you should probably have made sure your name is on all the dozens of 20-page security contracts you signed when creating, incorporating, running, and selling the company.
  - ashray 13y ago
    I don't understand. Did you not have company equity in your name? As far as I understand, it would be impossible to acquire the company, its patents, and associated technology without proper paperwork?
    - downandout 13y ago
      We believe what happened is that he tore up my contract without telling me, established a new, clean corporate entity after pushing me out (though my contract was supposedly still valid, it was with the old entity), and simply transferred all intellectual property to the new entity. He kept the name the same but changed it from LLC to a corporation. The acquiring company claims never to have heard my name, other than seeing it on the company's primary patent. It's a big legal mess.
berberous 13y ago
If you have any evidence to your claim of $12.88 mm, I imagine there are lawyers that would be willing to take your case on contingency...did you not even try to seek one out?
atomical 13y ago
Have you thought about hiring a lawyer on contingency?
dudus 13y ago
Technical folks screw business cofounders too. Look at facebook.

chasing 13y ago

> I was the technical cofounder of a company that was later acquired, but never received the $12.8 million check I was supposed to and didn't have the resources to fight back against a maniacal cofounder flush with $60+ million in new cash from the acquisition. Not to derail, but let's hear that story. Seems like hiring a lawyer would be a no-brainer if you were due $12.8m.

UweSchmidt 13y ago
My bet is that he's already explored that avenue, and that the business relationship was not properly specified in writing and that it's the unsolvable "my word against your word" problem now. Hoping that everyone get's that right the first time is of course illusional; may you all learn that lesson by being screwed out of a moderate 4 digit amount early in your careers!
downandout 13y ago
It's a long story, but I am still in the process of pursuing it legally. When I first learned of the acquisition, I didn't have the resources to pursue it, and even today don't have millions sitting around to pay attorneys. I sent a letter to the acquiring company explaining the situation and demanding that I receive my cut, and they actually responded with an extortionate threat in writing. We are now pursuing a civil federal extortion case against both the acquirer and my cofounder. But, as of this moment, despite my name being on the company's first and primary patent, having written all of its initial code, having envisioned the entire concept of the company myself, and even having named the company, I have seen exactly $0 from an acquisition I was supposed to receive 20% of. Even better, with $60 million in his pocket, my womanizing, alcoholic, conniving cofounder suddenly found Jesus and now fancies himself a televangelist of sorts. At last contact with him, he was "praying for me". Go figure. So yeah, be careful when working with others. My cofounder would have been considered by anyone that looked at him to be beyond reproach. He was not.
- imdsm 13y ago
  Any name?
  - downandout 13y ago
    I probably shouldn't say here, but since I've posted the info before here years ago, I guess it doesn't really matter. http://anakam.com http://anakam.com (redirects to Equifax, who bought the company and tried to extort me, original company was Anakam LLC).
    - Kluny 13y ago
      As much as I'm interested and curious to hear the details, I really wish you would delete all the comments you've made about this. I would hate it if they were able to convince a judge that your case is invalid based on something careless you said on the internet.
- deleted 13y ago
  [deleted]
- beachstartup 13y ago
  you should probably have made sure your name is on all the dozens of 20-page security contracts you signed when creating, incorporating, running, and selling the company.
- ashray 13y ago
  I don't understand. Did you not have company equity in your name? As far as I understand, it would be impossible to acquire the company, its patents, and associated technology without proper paperwork?
  - downandout 13y ago
    We believe what happened is that he tore up my contract without telling me, established a new, clean corporate entity after pushing me out (though my contract was supposedly still valid, it was with the old entity), and simply transferred all intellectual property to the new entity. He kept the name the same but changed it from LLC to a corporation. The acquiring company claims never to have heard my name, other than seeing it on the company's primary patent. It's a big legal mess.

berberous 13y ago

If you have any evidence to your claim of $12.88 mm, I imagine there are lawyers that would be willing to take your case on contingency...did you not even try to seek one out?

atomical 13y ago

Have you thought about hiring a lawyer on contingency?

dudus 13y ago

Technical folks screw business cofounders too. Look at facebook.