I have been working in a 2-year-old SaaS startup related to smart water management for 1 year.<p>Now, at this startup, where I have been working since June 2022, I have not been paid in any way. Instead, they would give me an equity in June 2023.<p>We expected to receive investment until December, but that did not happen. As devs, we have constantly pivoted the product. We have constantly replaced the technologies with better ones.<p>Why did we do these? Because companies wanted demos. Instead, I think we could have shown a Figma drawing and presentation until the sale took place.<p>After struggling for so long, there really is a sale this month. Now they say I have to work harder. I'm tired of working for nothing for a year.<p>Yes, they told me they would give me an equity in 2023 June, at the end of the first year after joining.<p>They call the company valuation $2.5m. How can a company with a turnover of $0. have a valuation of $2.5m?<p>I noticed this now. We are in a 3rd world country, so according to this, the equity they gave was enough, but I realized later.<p>From here, what would you recommend I do?<p>I'd appreciate it if anyone with experience could give advice.
> Now, at this startup, where I have been working since June 2022, I have not been paid in any way<p>This isn’t normal, you should have stopped working there after the first month of not being paid. So stop now.<p>I don’t know which country you’re in but don’t you have a contract which stipulates your salary and aren’t there any legal protections against not being paid?
>I have not been paid in any way. Instead, they would give me an equity in June 2023.<p>Is that in writing? Signed any contracts, operating agreements etc?<p>>expected to receive investment until December, but that did not happen.<p>Do you know why? Do you have a working MVP?<p>> They call the company valuation $2.5m. How can a company with a turnover of $0. have a valuation of $2.5m?<p>Exactly, another red flag. <a href="https://www.investopedia.com/terms/b/business-valuation.asp" rel="nofollow">https://www.investopedia.com/terms/b/business-valuation.asp</a><p>If you have skills, and have nothing in contract to keep you there, walk away, find a new job that pays etc. Good luck.