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Bold move to take most of the round off the table for founder liquidity. Edit: I think this is great for the founders and I hope they gave a similar option to

by nedwin 12y ago

Bold move to take most of the round off the table for founder liquidity. Edit: I think this is great for the founders and I hope they gave a similar option to their employees who have been with them a long time. High fives for the massive transparency success of the business while maintaining a positive work culture.

skrebbel 12y ago
> and I hope they gave a similar option to their employees who have been with them a long time. Looks like they did. Up in the article they say they're splitting $2M among the two founders, and later it says that they're taking in total $2,5M for cashing in founder and employee equity. I assume the $0,5M is the employee part. Seems like a small fraction, but I assume most of it goes to the earlier employees (and then only those who opt for it), so it might be a year's salary right there anyway.
- joelgascoigne 12y ago
  That's right, good eye Egbert and thanks for chiming in with the details! Interestingly, Leo and I have been doing this for almost 4 years, whereas most of the team is much earlier in the journey. We have a couple of the earliest members of the team taking some liquidity, however most chose not to at this stage (we offered it to everyone). Thanks, guys!
  - skrebbel 12y ago
    Joel, I like seeing how well you're doing. I truly wonder how much of it is luck, but I really hope that only very little of it is.
    - joelgascoigne 12y ago
      Oh, I think most if it is :) Lots of right time right place.
      - skrebbel 12y ago
        Ha :-) Ok, well good for you then!
  - wastedhours 12y ago
    I assume they'll load their shares onto a secondary marketplace, and then sell off at set intervals during the day ;)
- sunils34 12y ago
  Yup, that's right. I'm an early Buffer employee/cto. I also wanted to confirm that I had the option of receiving some liquidity in this round by giving up some of my options that have vested. I chose not to sell them at this time as did most of the employees that had vested shares. Great thoughts guys!

by nedwin 12y ago

skrebbel 12y ago

> and I hope they gave a similar option to their employees who have been with them a long time. Looks like they did. Up in the article they say they're splitting $2M among the two founders, and later it says that they're taking in total $2,5M for cashing in founder and employee equity. I assume the $0,5M is the employee part. Seems like a small fraction, but I assume most of it goes to the earlier employees (and then only those who opt for it), so it might be a year's salary right there anyway.

joelgascoigne 12y ago
That's right, good eye Egbert and thanks for chiming in with the details! Interestingly, Leo and I have been doing this for almost 4 years, whereas most of the team is much earlier in the journey. We have a couple of the earliest members of the team taking some liquidity, however most chose not to at this stage (we offered it to everyone). Thanks, guys!
- skrebbel 12y ago
  Joel, I like seeing how well you're doing. I truly wonder how much of it is luck, but I really hope that only very little of it is.
  - joelgascoigne 12y ago
    Oh, I think most if it is :) Lots of right time right place.
    - skrebbel 12y ago
      Ha :-) Ok, well good for you then!
- wastedhours 12y ago
  I assume they'll load their shares onto a secondary marketplace, and then sell off at set intervals during the day ;)
sunils34 12y ago
Yup, that's right. I'm an early Buffer employee/cto. I also wanted to confirm that I had the option of receiving some liquidity in this round by giving up some of my options that have vested. I chose not to sell them at this time as did most of the employees that had vested shares. Great thoughts guys!