Spot Fires | ESOP with Marco Salinas from Hubble
We have kicked off a new community session with our early stage founder & CEO community, Canopy called Spot Fires.
The topics for a Spot Fires session are taken directly from the founders within Canopy with each having the opportunity to hear from others within the community who have been there, or those currently going through it, and have their own learnings to share. Spot Fires is all about helping founders better understand what may lay ahead as they tackle questions and challenges they have dealt with before.
Marco Salinas, Founder & CEO of Hubble was the first cab off the rank after raising the topic of ESOP. Hubble is a platform that demonstrates how different materials affect home living experiences, helping the construction industry better understand the impact of certain materials .
Marco’s key takeaways from the session:
- Use ESOP for hiring – with an allocation between .1-.4% staff or .2-.8 if pre-seed (ESOP will dilute)
- 10% is the standard total share allocation, leading investors might want to see more.
- Good reviews about using Cake
- Important to work on a preliminary valuation with a lawyer to overlook the execution
- Use it as an incentive, topping up existing ESOP.
- Don’t give away too much too early, save enough for later hires that will most likely be key scaling hires.
Connect with Hubble:
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