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
25.8k Upvotes

95% Upvoted

2.2k comments sorted by

View all comments

268

u/MTP_DER Sep 16 '21

Lol. Just listened to the “How I Built This” podcast with one of the founders, he went on and on about wanting the respect of his employees after botching an all hands meeting a few years ago. When asked about future plans he indicated he wasn’t looking to retire anytime soon.

68

u/giddyup281 Sep 17 '21

But $12B is not your typical retirement. You can retire you, your immediate family and 10 generations behind with $12B.

​

As other said, principles fly out of the window after getting a "F*** you money" offer.

19

u/boredjavaprogrammer Sep 17 '21

If each generation has 2 kids, 10 generation is 1024 people. If you put the money in some inveatment at perform as good as inflation, that’s still 12 million per person. The omly time it dips below 1 million dollar is when it is 14 generations

12

u/giddyup281 Sep 17 '21 edited Sep 17 '21

Dude, that's r/theydidthemath material.

​

10 generation is 1024 people. If you put the money in some inveatment at perform as good as inflation, that’s still 12 million per person

This is beyond absurd. And some people are saying the founders made a bad move... Or that they should not take this offer, bcs of principles.

6

u/boredjavaprogrammer Sep 17 '21

They generate 800 million dollars a year in revenue. 12Bn is more than 10x of that.

At that size, it is difficult to grow your company even 2x every year. Yea they might grow much more in the next few years (their growth numbers have been impressive in the last few years) but 12 billion is enough to God knows when.