Hacker News Reader

Comment by dramort | Hacker News Reader

thanks for the reply, I have already kind of tried option 3 but they just gave me a lame answer that they'll give it to me after the 3 months

View on HN

Reply and say "That's not good enough." Nothing else. Makes your position clear and leaves the ball in their court. You still have all options available to you, but might motivate them to act.

Sadly, unless I'm misreading the situation, the relationship is likely broken enough that you wouldn't want to continue with them. You'd be either going it alone with your codebase or asking them to buy you out, subject to you seeing it through to launch, perhaps?

If you can negotiate a payout rather than equity, it might be a better return given their networkers aren't networking.

Another variant is four words: "we had an agreement." This emphasises that you had already agreed to something.

I agree with everything else, it's very unlikely to work out.

Did they give you the reply in writing? If not ask for confirmation in the form of a letter.

It only takes 5 mins to type out a letter. If they blow you off you know you are getting shafted.

dilution-wise, 30% post-funding > 30% pre-funding ;-)

But a legal contract, in writing, promise of 30% equity post-funding would have to be disclosed to any new investors. If hew new shareholder didn't agree to it prior to an agreement or term sheet, it could sour the whole deal.

Reply on news.ycombinator.com