We are three female founders in fashion. I say that first because we’re proud and there should be more of us. I am in tech, another is in product/biz/marketing, and the other is finance/legal.
We built a product for the fashion industry … had two successful pilot programs with big labels to verify the product/market. Don’t yet have paying clients. Been at it for over a year bootsrapping ourselves mad. Ran out of bootstrap funds, can’t raise money due to lack of traction (that’s been the feedback).
Came across a competitor and reached out … thinking was that we want to keep innovating in the category and if we can get bought out and paid to do it for another company, then that’s better than closing things down.
Competitor is asking what we want, but doesn’t need our product, they want our talent/expertise. Is it fair to add up all the hours spent over the year or so, times it by $100/hr and ask for that number as a talent buyout? Maybe 1/3 in cash and 2/3 in stock options?