Founder Sold His Startup for $575M in Cash and Gets to Keep Every Penny (2015)

Re:Founder Sold His Startup for $575M in Cash and Gets to Ke... by GreaterFool on Monday August 29, 2016 @05:45PM (#12385640)

Saw the clickbait-y headline and thought, "ok, so how did he escape paying taxes? some clever trick"?

I assume the tax on the deal was hefty so while nice payout it certainly isn't "every penny".

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Re:Founder Sold His Startup for $575M in Cash and Gets to Ke... by Jarwain on Monday August 29, 2016 @06:29PM (#12385972)

Well tax is applied anyways, whether it all goes to a single person or is split among multiple founders. Every penny is hyperbole, but gets the point across; he didn't have to split the profit with anyone else.

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Re:Founder Sold His Startup for $575M in Cash and Gets to Ke... by cpncrunch on Monday August 29, 2016 @07:11PM (#12386173)

OP was just pointing out that the title is inaccurate/misleading. He didn't get to keep every penny as he will have to pay about $137M in tax if my calculations are correct.

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Re:Founder Sold His Startup for $575M in Cash and Gets to Ke... by tedmiston on Monday August 29, 2016 @06:29PM (#12385969)

It seems reasonable to assume anyone receiving cash from acquisition would have to pay taxes on it...

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Re:Founder Sold His Startup for $575M in Cash and Gets to Ke... by x1798DE on Monday August 29, 2016 @07:36PM (#12386276)

Which is why it would be news if they got to keep every penny...

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Re:Founder Sold His Startup for $575M in Cash and Gets to Ke... by jba on Monday August 29, 2016 @09:30PM (#12386778)

If nothing else, he held his equity for long enough to only get hit by long-term capital gains taxes. (per wikipedia, in canada, that's half your typical tax rate).

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