Ahikam Kaufman
๐ค SpeakerAppearances Over Time
Podcast Appearances
So you have from the get-go, you have to decide how you're going to compensate in equity, your founding team, your staff member.
So when the time comes, they benefit from the results.
You can't repair it afterwards.
So we had that.
And again, we raised like $60 million, which back then was a lot of money.
So we got diluted, but that's fine because I...
You know, what you're really passionate about is building, working with a great team that you need, obviously, to fund.
And the more team members you add, at that time, obviously, you couldn't do vibe coding.
They had to hire people to write code.
So the more team you have, it's easier to get things done for the most part.
And obviously, also to market the platform and so on and so forth.
I'd like to, you know, we were not like a super large team.
We were probably about 80 people at the time.
But I'd like to think at least 10, at least 10, like the founding team members became, it was like a life, definitely a life-changing event.
By the way, one...
One thing to keep in mind, when you sell a company, smart buyers, and Intuit is definitely a smart buyer, and I have all the appreciation in the world for this company for many, many reasons.
And, you know, the way they build products and the way they execute is second to none in the B2C and the B2SMB market.
But the acquirer will appropriate, let's say, 90% of the fund to the shareholders of the company, founders and employees included, and then typically 10% for retention.
And we also took that retention sum, which at the time was an additional $25 million, and we fully deployed it across the board to people, telling them the following, listen, we can actually, we have an opportunity now to remediate you, so you will feel...
Even if you are not part of the founding team, but you've done a great job over the last year because you only joined a year ago, we give you that money, that allocation of the retention because of the future work you're going to do for the combined business.