‘Document everything!’: Guy helps CEO build startup, gets cheated out of promised 15% shares before company launch

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Ben Weiss • Writer and Editor
Aug 26, 2024 8:00 AM EDT

Imagine helping build something from the ground up, only to have your contribution entirely dismissed and undervalued. This CEO is giving an Elizabeth Holmes level of ruthlessness after cheating her former CTO out of his promised shares in the company just before its official launch. 

This, of course, was after two years of contracted work on the CTO's part in helping develop the app and raise funding for the startup. Once the CEO found an investor who signed onto the company as her COO, this Redditor's contributions were suddenly considered minor. They even tried to pay him a small fee to get him to go away quietly. Thankfully, as many folks in the comments section suggested, the Redditor has plenty of documentation proving just how instrumental he was to the company's growth. I guess it's time for the CEO to pay him what he's worth before she has a lawsuit on her hands.

For more stories like this, check out this post about a new hire who discovered an error in his contract. 

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  • 01
    $ DOLLARS
    via Money Knack
  • 02
    Was promised shares in a startup and after 2 years of work, before the registration of the company, I got laid off saying I wasn't necessary
    via chtulu-
  • 03
    Was promised shares in a startup, worked 2 years and the day before registering the company got told I wasn't necessary
    via chtulu-
  • 04
    A psychologist from Warsaw wanted to make an app related to her field (she didn't even know what was necessary to make that, she had and still has 0 technical skills) I gave her advice, explained everything that was necessary,
    via chtulu-
  • 05
    prepared the business plan, how much everything should cost, made promotional videos and wrote down all the nice to have and must have. When she finally found
    via chtulu-
  • 06
    an investor (that has seen those videos and thanks to that she got the money) we started talking to an external software house that had to realize the app. I was present at every call, was even cited as CTO in many documents and the promised shares were 15%. Then
    via chtulu-
  • 07
    an external guy came in and she had some kind of affair with him and they called me to tell me I never did anything (I have proof via mail of every work I did for them)
    via chtulu-
  • 08
    and that I as CTO had to be below the COO (this new guy) and I wasn't gonna get any shares as I was more of a hired worker. I got mad and left the project. Past a month
    via chtulu-
  • 09
    they call me to make me sign some document where I had to accept 3000zł (750$ LMAO) for 2 years of work and agree to never want to perform legal actions against them. I said I wan't ok with that and they said it's all they can give me and that we worked together
    via chtulu-
  • 10
    me and that we worked together on that and I shouldn't ask for a payment as we worked simultaneously (■does that mean? Idk but whatever).
    via chtulu-
  • 11
    What do you advice? In this case I spoke to a lawyer, and have to gather evidence and write down the approximate hours of work I put into it. Anyone had a similar situation?
    via chtulu-
  • 12
    (The day after I left the project they registered the company and my shares went to that new guy) Can't tell more as I signed an NdA.
    via chtulu-
  • 13
    Hobnail-boots 1 day ago If you didn't get your "promise of shares" in writing, you didn't get a promise of shares.
    via chtulu-
  • 14
    chtulu- OP 1 day ago I have a video call of her admitting to it
    via chtulu-
  • 15
    Hobnail-boots 1 day ago Save & document everything!
    via chtulu-
  • 16
    chtulu- OP 1 day ago Fortunately before I got that info from them, I started doubting and have every call recording and everyhting went through mail ;) The thing is I'm 25, I'm a little scared of suing as I don't have that experience and many people scare me off
    via chtulu-
  • 17
    saying if I lose I'll have to pay lots of money etc. Now, I'm pretty confident I have all that it takes, but how much recompensation can I ask for? Once I declined a job offer as a backend developer
    via chtulu-
  • 18
    where I could have got 16000zł/month and she told me recently it was just my choice to decline (even tho she was immensely grateful till I was necessary)
    via chtulu-

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