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Venture-capital infusions shrank Box founders’ stakes, ignited strife

37 点作者 pierrealexandre大约 10 年前

8 条评论

kzhahou大约 10 年前
&gt; Aaron Levie and Dylan Smith are worth more than $100 million combined after turning the cloud software firm they started in a Berkeley, Calif., garage into Box Inc., with 1,200 employees and expected revenue of $285 million this year. ...But getting there took 10 years.<p>This illustrates very well the disparity between founder and non-founder equity. It&#x27;s considered a negative that Levie and Smith got <i>only</i> $100 million combined. They&#x27;re not Sergey-rich, but it&#x27;s still fuck-you retire-early start-a-foundation become-an-investor money for each of them.<p>Meanwhile, given that the sum of non-founder equity (i.e., all employees combined) typically adds up to less than the founders&#x27;, you&#x27;ve got at most $100 million to spread over 1200 employees. Employee number 1 might have a couple million dollars bonus from his 10 years, but it&#x27;ll go down quickly from there for everyone after the first few. Where&#x27;s the WSJ article on them, and the thousands of others who are never written about when silicon valley companies go public? The ones who joined a company early, or when it was in the red, or under pressure from all sides, and helped it grow and succeed... and they walk away still not being able to afford a house in Mountain View, while their founders pick out colors for their Ferraris?
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gkoberger大约 10 年前
Stories like this make me think it&#x27;s almost not worth starting a company. Give 1,200 talented people an awesome place to work, be CEO of a company you truly enjoy leading, provide thousands of companies with a service that makes their lives easier, entertain 150k Twitter followers, make a bunch of your employees first-time millionaires, make millions for your investors, make yourself more money than you&#x27;ll ever be able to spend... and people still consider you a failure.
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equil大约 10 年前
mirror that bypasses the paywall <a href="https:&#x2F;&#x2F;archive.is&#x2F;WKcLi" rel="nofollow">https:&#x2F;&#x2F;archive.is&#x2F;WKcLi</a>
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driverdan大约 10 年前
&gt; Mr. Cuban put in $250,000 and got a nearly one-third stake in the fledgling firm.<p>Why would someone give up a third of their company for $250k? That seems crazy to me.
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wilsynet大约 10 年前
Success in a VC backed company means dilution. Massive success means massive dilution.<p>The only time it doesn&#x27;t mean that is when we&#x27;re talking about super unicorns (Facebook) or primarily self-funded early on along with early traction (Workday).
jtzhou大约 10 年前
&gt; In May 2011, Citrix Systems Inc. offered to acquire Box for about $600 million, nearly triple the online storage company’s value in February.<p>&gt; Draper Fisher Jurvetson, of Menlo Park, Calif., pressured Messrs. Levie and Smith to think long and hard about selling. The venture-capital firm stood to get $9 for every Box share it bought for 29 cents.<p>One reason one should hesitate about taking big-name VC funding is that you can get stuck in the &quot;home run&quot; mentality.
oh_sigh大约 10 年前
It&#x27;s only their own fault...not sure how this is news worthy.
vitalus大约 10 年前
Behind a paywall :(
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