Re:Amazon bought Eero for $97M and employees still got screwed
by jachee on Friday April 05, 2019 @06:54PM
(#19587805)
Man, I sure wish someone would screw me over with a high-six-figure cash bonus like they did those founders.
Being poor is having no idea what that reality might seem like.
Re:Amazon bought Eero for $97M and employees still got screwed
by librish on Friday April 05, 2019 @07:27PM
(#19588013)
No, the company was failing and the board decided that this was the best way for the investors to recuperate some of their lost capital. If they waiting longer they would've had to sell for less or go bankrupt which would have lost everyone even more money. (Obviously employees were already at $0 so they couldn't lose more).
Re:Amazon bought Eero for $97M and employees still got screwed
by mamon on Friday April 05, 2019 @10:53PM
(#19588885)
As someone else already noted in this thread: employees were the only ones who actually made money on this company, in form of their salary received over the years. It's only the equity part of their compensation that went to $0.
There is no reason that all the stockholders should have voted to approve this sale unless they were going to walk away with something to pad their pockets so... did some majority shareholder sell out to amazon and get some separate remuneration? I feel like that should definitely be illegal.
Edit: Oh, so the founders assumed they'd be acqui-hired and got screwed over after screwing over all the regular employees. Okay I'm totally fine with that.