Hi, I have recently started an e-commerce business, and whilst initially it was me and one other founder, I decided that it was not working out, because he had a lack of funds, lack of time and we had similar skill sets.
Sometime later it became apparent that I would need a technical co-founder who is also competent at digital marketing and product mockups. I decided to take a friend on board, and everything has been going great. We decided I would give him 10% equity as well as pay him a small weekly wage for the work he put in.
The problem is that he underestimated how much work needs to be done, and is now asking for a 25% stake along with the small weekly salary. However, he has not provided any capital, nor any of the preliminary planning that was needed to bring my idea to fruition.
I am willing to compromise, but it seems that what he is asking is too much. I am keen to hear other’s thoughts on this.
Thanks for taking the time to read this!