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by gist
3044 days ago
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> Ultimately Keith knew I could just walk away from it all and TechCrunch would lose all its value, so he relented and I agreed to pay Keith 10% of any value I received in the company eventually to avoid litigation. I know and have done business with Mike. That said the above sounds like Mike may have been using resources [1] of Edgeio and so essentially to avoid litigation Mike had to give Keith a cut of the action. So as a stretch Keith could claim that w/o those resources (pay, reimbursement, guidance and so on) Mike would never have been able to start Techcrunch. That doesn't make Keith a founder for sure. But then again (taking Keith's side of this not that I have any reason to do so at all) it doesn't seem entirely unjust that he got 10% of Techcrunch. He could probably rework the 'techcrunch' connection creatively to reflect this. Also nobody gives up 10% of a company in this circumstance (remember Arrington went to law school) unless they feel the other party has a leg to stand on and they stand to loose more. Generally of course. [1] "He asked me to work with him on Edgeio and possibly other companies he was to start.
I agreed and began working with him.".."At the time I was working with Keith Teare on another project called Edgeio, a company that he founded" |
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