Founder @Zeel.com (2010), Founder @Vault.com (sold 2007 to Veronis Suhler). EIR Lightspeed. Angel Investor. MS ChemE & BS Chem @Stanford.
I've raised or helped raise over $30 mil in funding across 3 start-ups.
I've built the industry-leading in-home on-demand massage therapy app and business, Zeel.com
I've sat on 6 private company boards, including 3 as head of the audit committee. I understand how to structure boards such that founders don't lose as much control as they normally do (and fail to realize until it's too late).
I have hired and fired over 1000 people across multiple companies in the past 20 years. I can talk to you about sources of candidates, how to decipher resumes, questions to ask during the interview process, how to check references properly, how to on-board, how to train, how to grow employees, and how to let go somebody who just isn't cutting the mustard.
I have been an entrepreneur for over 20 years, since graduating from Stanford ('91 BS & '93 MS). I have been on the founding team of 3 companies now, 2 sold for a 5-14x return to shareholders and one that I'm currently running. I have invested in 13 start-ups, a couple of which have gone on to modest exists.
You need to sign a shareholders' agreement, addressing the following topics:
1. Minimum # of hours each founder is required to work each week.
2. Overall duties each founder will perform.
3. # of shares each founder gets.
4. Vesting schedule for each founder (tied to the # of hours worked).
5. Side projects, if any, each founder can undertake, including any boards each founder can sit on.
6. How much each founder can spend without approval from the other founders.
7. What level of hire each founder can make without approval from the other founders.
8. Under what circumstances a founder may be terminated from the organization.
And many more issues so as to avoid as many misunderstandings as possible in the future.
Totally worth. Samer went above and beyond w/r to the subject that I had questions about, despite it being a relatively confidential subject. I couldn't have had a better call. Thanks Samer.
Samer is a godsend. I'm so appreciative for his guidance, support, and advice. He helped me with my exit from my own web startup, and his insights into the industry are invaluable. His dual-threat status as investor and entrepreneur make him especially helpful. I recommend him to anyone looking for straight talk and critical input.