Very impressive! Annual Run Rate is different from ARR though. Annual Run Rate is probably just taking one (or a few) months, and extrapolate that to a year.
Still great progress for having raised to little though.
I'm just adding this for posterity since there 3 completely different yet acceptable definitions of ARR, so telling someone they are "wrong" for not using the same definition as you is a tad silly.
IMHO if your product and company works, you're in it for a long time. That means your co-founder should keep their motivation long-term as well.
If your first sale happens within the next few months, I would keep a 50/50 split just because they will put in a lot of effort in the future. Alternatively, you could start your vesting now and and the other founder could start vesting as soon as he joins full-time. Not sure if this is legally possible.
Another option would be to count the difference in time you spent on it and translate that into equity and ask your co-founder to give you that (like 45% vs 55% equity split). I wouldn't go more than 5%, since I prefer to keep things even. Again, you've got a long road ahead of you, so make sure both of you feel comfortable with the split and with future obligations as well.
I think you're right about keeping the long-term goals of the company in mind when doing the equity split. A couple months in the span of 6-10 years is nothing. We'll stick with the 50/50 split based on this.
On the vesting part IANAL so we'll stick to what works and not try to monkey with the vesting schedules.
Github has been down (or very slow) a lot the last few months. They used to have a good engineering reputation (at least with me), but it's been tough times over there.
I have been at meetups all around the world (Belgium, Madrid, SF, Barcelona, London)... and HN London is easily one of the highest quality ones I've been to. If you're in/around London and wanna meet some interesting people (e.g. I've seen pc there once), make sure you go there.
I've been living in Barcelona on/off since 2013. I don't have a problem with the tourists. I do have a problem with drunk tourists who pee and shout in the streets at night. Very disrespectful.
I completely understand the protests.. Tourists are a real pain in Barcelona, especially in El Born/Raval/around La Rambla.
Trust me, I never did it :) I agree with your statement, but I also think there should be either police (guardia urbana?) taking care of drunk tourists, or just close hotels and don't invite tourists. Otherwise it looks like one part of citizens is happy to take tourists money, and other just hate them - not fair to tourists.
And I need to mention I've never seen disrespectful or hateful locals in Barcelona - almost every local citizen I met was kind and polite, even if our talk was possible only with Google Translate.
And a horrible climate in winter. If you're used to California weather, I wouldn't move to Sweden. It's like -20 in winter (celcius), plus it gets dark around 4 if you're lucky.
Move to Spain. Probably the best place on earth life/quality wise. Easy to find a tech job (in e.g. Barcelona). Pay is lower of course.
I've lived and worked in both Spain and Sweden in both Winter and Summer, and hands down I prefer Sweden. I love both seasons in Sweden, and hate the Summer in Spain.
There's every chance I have a better personal cultural fit with the Swedes, but that's very much a personal thing. In my experience English is more widely spoken in Sweden than in Spain, which also makes it easier for me. I think the economy in Sweden is stronger.
Mostly Valencia, with some time in Tarragona, Palma, and Cartagena. Mostly I was working there, but I knew I'd be there for some time, so I integrated as quickly as possible.
"And of course, there’s also the question of how Yik Yak will make money — as Crook joked, “don’t worry about the money” is something they say in Silicon Valley, but in New York they say “worry about the money” — a nod to the conference’s New York location.
But that $70+ million in outside funding allows Yik Yak’s co-founders to delay thinking about monetization for some time. Local ads are in the back of their minds, said Buffington, but they are not even looking to test that yet. Instead, the company has the freedom to focus on the user experience and growth, which is what they plan to do."
Cool! If you're willing to share, what is the most popular site people download videos for? I was thinking NSFW sites as well, but you said they only account for 0.65%.
Still great progress for having raised to little though.