转型后联合创始人退出——合理的退出方案是什么？
3 分•作者: throwaway-xx•7 个月前
因为一些显而易见的原因，我匿名发帖。我是某家获得风险投资的初创公司的联合创始人，目前估值约为 2000 万美元。我们获得了强劲的 pre-seed 轮融资，组建了团队，发布了 v1 版本，产生了收入，并且最近转向了一个相关的想法，我认为这个想法可能会成功——但我不再是领导它的合适人选了。我的联合创始人对新的方向充满热情，并希望继续推进。我想干净利落地退出，并保持正直。<p>我大约有 10% 的已归属股权。我主导了我们早期的融资，几个月没有报酬地工作，并且投入了个人资金。我并不想最大化我的回报——但经过 1.5 年的创业，我也不想空手而归。<p>我的问题：
1. 在这种情况下，一个公平的退出方案是什么？有什么公式/规则可以参考吗？<p>2. 我应该只保留已归属的股权吗？未来的投资者可能会认为这是“死”股权。<p>3. 现金收购常见或合适吗？<p>您将如何以一种建设性的方式与董事会/联合创始人沟通，并保护长期的关系？<p>希望听到任何经历过这种情况的人的意见——无论是创始人、投资者还是法律方面的。
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Throwaway for obvious reasons. I’m a co-founder of a venture-backed startup currently valued at ~$20M. We raised a strong pre-seed, built a team, shipped v1, generated revenue, and recently pivoted into a related idea that I think could work—but I’m no longer the right person to lead it. My co-founder is passionate about the new direction and wants to take it forward. I want to step away cleanly and with integrity.<p>I have ~10% vested. I led our early fundraise, worked unpaid for months, and contributed personal capital. I’m not trying to maximize my return—but I also don’t want to walk away empty-handed after 1.5 years of building.<p>My question:
1. What’s a fair exit package in this situation? A formula/rule I can use?<p>2. Should I just keep the vested equity? Future investors may see this as dead equity.<p>3. Is a cash buyout common or appropriate?<p>How would you approach this with the board/co-founder in a way that’s constructive and protects long-term relationships?<p>Would love to hear from anyone who's seen this play out—on the founder, investor, or legal side.