Item — HN Reader

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.

1 comments

> 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.

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!

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.

Oh, I think most if it is :) Lots of right time right place.

Ha :-)

Ok, well good for you then!

I assume they'll load their shares onto a secondary marketplace, and then sell off at set intervals during the day ;)

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!