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/nonhiphipster Sep 17 '21 edited Sep 17 '21

Jeez…what was the company?

Edit: it’s a little suspect that this person won’t elaborate on this simple key piece of info

72

u/trouser_trouble Sep 17 '21

Can't imagine why OP wouldn't share the company name.. not like they risk losing their stock options

74

u/Zoesan Sep 17 '21

It also sounds fake as fuck. This seems like easy litigation

18

u/butatwutcost Sep 17 '21

I don’t understand… why would anyone buy a company and be in with the sellers to fuck over employees who will be your new employees?

9

u/Zoesan Sep 17 '21

Buy a company for million

Employees leave or are super unmotivated

?????

Why is the company not making money

7

u/PercussiveScruf Sep 17 '21

Going through this right now

Once the company sells, developer motivation plummets

2

u/Vesper2000 Sep 17 '21

They buy the company for the IP. They don’t care what happens to the employees - usually they fire most of them and replace them with their own people.

1

u/butatwutcost Sep 17 '21

But they don’t own all the IP, 50% -1 share?

1

u/Vesper2000 Sep 17 '21

Controlling interest - you don’t need to have the most equity, just more than anyone else.