Left startup, founder wants shares back.
Hi there, I know this is my first post but I've been using rfd for some times now just never had the chance to use the forum feature.
Anyway, your opinion is very valuable if anyone can share some insights.
So two years ago I left a big company to join a really small startup and took a major pay cut for equity. Everything is documented on the shareholders agreement where it specifically states no repurchase right by the company and no dilution of my percentage.
The founder wants to raise fund and he wants to buy my shares back and he is basically saying that I no longer contribute that I should really sell my shares and the no dilution clause is a huge problem. The no dilution part I think I agree is a problem for future investors.
The revenue has gone up more than 10 times but we are still not at an ideal point yet, but I believe the company will be successfully.
Because i have the shareholders agreement, he can't force me into selling and the buy out amount he offered compared to my salary cut is not justifiable, if I really do the math, I'm still at loss.
Anyway, your opinion is very valuable if anyone can share some insights.
So two years ago I left a big company to join a really small startup and took a major pay cut for equity. Everything is documented on the shareholders agreement where it specifically states no repurchase right by the company and no dilution of my percentage.
The founder wants to raise fund and he wants to buy my shares back and he is basically saying that I no longer contribute that I should really sell my shares and the no dilution clause is a huge problem. The no dilution part I think I agree is a problem for future investors.
The revenue has gone up more than 10 times but we are still not at an ideal point yet, but I believe the company will be successfully.
Because i have the shareholders agreement, he can't force me into selling and the buy out amount he offered compared to my salary cut is not justifiable, if I really do the math, I'm still at loss.