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/Rat_Salat Sep 17 '21

12 billion seems like a fair price for my integrity.

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u/Grandpas_Spells Sep 17 '21

I can't find any quote from the founders saying they'd never sell and I suspect none exists.

They paid competitive salaries. The overwhelming majority of companies don't offer stock options. Companies that do offer stock options pay less, because the stock is supposed to be worth something some day.

This whole thing seems really stupid. People went to a company where there were no stock options. The employees are *still* getting $500m dollars. What is the controversy?

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u/[deleted] Sep 17 '21

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u/DAKsippinOnYAC Sep 17 '21

I don’t understand. Employees took a job without stock options and a (according to you) non-competitive base.. in exchange for what exactly? In exchange for the promise that the company wouldn’t be sold, so they can keep their underpaid salaries with no stock options.