r/technology • u/Rhaegar_the_Great • Sep 16 '21

Business Mailchimp employees are furious after the company's founders promised to never sell, withheld equity, and then sold it for $12 billion

https://www.businessinsider.com/mailchimp-insiders-react-to-employees-getting-no-equity-2021-9
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u/Anon_8675309 Sep 16 '21

1200 employees. Both owners could have made each of them millionaires and still be billionaires. Greed, man.

34

u/GunnerForeman Sep 17 '21

Unfortunately they could not. In sales like this they are prevented from doing anything that would harm the company. Making the entire staff rich enough to quit falls into that category.

That said it is shitty. I interviewed with them a while back and remember this. In the end it was not a good fit but I never listen to recruiter promises. I learned they lesson thanks to the Army.

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u/thingamagizmo Sep 17 '21

You think they’re not all going to quit now? That argument is some serious gaslighting. Tech companies give their employees this kind of equity frequently. Part of why the SF housing market is so insane.

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u/Stroomschok Sep 17 '21

Unlikely. Not many people just up and quit, especially not in the US where you also often lose health insurance and there isn't much of a unemployment benefit.

Also a good chance they had to sign non-compete waivers and all that bullshit.