In January, the legal startup DoNotPay sent more than $1 million to employees and investors in its first-ever dividend.
He got the idea from one of his own angels, Sahil Lavingia, whose startup Gumroad issued a dividend last year.
The expectation is that when a company sells or goes public, employees will cash in their shares for untold riches.
Last year, the digital commerce startup Gumroad paid a dividend of $1 million across employees, investors, and thousands of crowdfunding backers.
Cash rewardsBrowder said he wanted to offer a dividend to reward those employees and investors who bet on the startup early.
Persons:
Joshua Browder, Browder, DoNotPay, it's, Sahil Lavingia, Josh Seidenfeld, Cooley, Steve Huffman, Spencer Platt, Seidenfeld, Lavingia, Andreessen Horowitz, Greylock, Dylan Field, Scott Belsky, Daniel Dines, Balaji Srinivasan, Cash, there's
Organizations:
Business, Big Law, Employees, Founders Fund, Adobe
Locations:
San Francisco