Should I give Startup CEO 60% of my product?
Should I give Startup CEO 60% of my product?

I've recently been in talks with a startup to work together in the future sometime soon. Sometime after I'd send my portfolio and resume, I had a phone interview with the ceo. The startup is mainly just him at the moment and whatever other connections he's made I guess.

He's taken interest in an app I created a while back. He would like to get the app to a point it becomes a brand. As someone who was not interested in profiting off the app initially, I just thought, why not.

He sent me a contract which we are going to amend of course. He wanted believes it would be a good idea for him to have 60% equity of profits generated from the product, while I get 40%.

My contribution thus for is having build 100% of the app which we see as a test version. At the moment he has not contributed anything yet. His role is to handle all the business stuff, connecting to important people, business plan, strategy, making business decision.

He's reasoning for him having 60% and me 40% is that:

  1. He believes someone should have the power to make decisions without having to await agreement from the partner.
  2. He also knows that I was never interested in the business side of things, which he also uses as reasoning as to why he should have majority(60%) so that I don't need to worry about any of the business stuff.
  3. He says he also wants to protect the product/company, as he doesn't want us to be bought out down the line, since he prefers we grow it and maintain the product to ourselves always, which I understand. I also don't not selling if we don't have to.

The thing is, is there a way I could agree to majority for myself instead, and not have to make the business at the end of the day, just so I can focus on technical(software) side of things?

Do any of you think I should agree to him having majority and a majority up 60%?

I have not seen any business plan nor strategies yet. I don't have any proof that he can market a product to a point that it becomes successful.

My only reasons for partnering with anyone:

  1. I don't know how to market anything.
  2. I don't have a business mind.
  3. I don't have the connections or know how to connect with business minds to invest in something.

I don't believe he has much worth showing he himself has these abilities, but it does seem he is working towards something, so I don't want to ride him off, and it's not like any big company would approach me anyway, unless maybe I was a big shot senior developer. The way I see it, in this world, people gotta ride with those on the same level. Big companies don't approach junior developers for their products/ideas, and senior devs don't ride with small startups I guess.

So I guess, I might as well ride with someone on the same level as me in their respective role.

I'd appreciate advice.

submitted by /u/Kindly_Ask7277
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