ImBlackInTech Profile picture
Global membership network | Black & Latinx founders of emerging startups & professionals w/members in 16 countries | 5500+ in IMBN network | Join the family @👇
Oct 7, 2018 9 tweets 2 min read
Convo w/a founder today about the terms of their recent exit...
"It was a cash, equity and royalty deal. 7 figures cash, close to a million in stock in their company (which is publicly traded), and 5% royalty for 5 years. Not bad for a side project grown over a couple years lol." We want to create a new narrative, and have more founders focused on being able to tell this story. This founder didn't raise one dollar of VC, and didn't build the biggest business in the world. It was a focused, niche product for the education space. A couple years later...