Mailchimp insiders react to employees getting no equity from Intuit sale (businessinsider.com)

Article summary

Mailchimp employees are upset after the company's founders sold the company to Intuit for $12 billion, despite previously stating they would never sell. The employees were not given equity and instead received profit-sharing and a cash bonus, which some feel is not enough considering the company's sale price. The founders, Ben Chestnut and Dan Kurzius, will each receive around $5 billion from the sale. The company's culture and mission emphasized helping small businesses and being independent, which some employees feel has been betrayed by the sale.

Main themes

• company culture
• equity and compensation
• business ethics
• founder intentions
• employee expectations
• sale and acquisition

What commenters say

• Employees who accepted lower pay in exchange for job security and a sense of mission feel betrayed by the company's sale.
• The founders' decision to sell was likely driven by the large sum of money offered, and they cannot be faulted for changing their minds.
• The lack of equity for employees is seen as unfair, especially given the company's emphasis on being independent and helping small businesses.
• Some argue that employees should not have expected equity or a large payout, as they were aware of the company's compensation structure when they joined.
• The sale of the company is seen as a normal part of business, and employees should not be surprised or upset by the founders' decision.
• Others believe that the founders' actions were disingenuous and that they prioritized their own wealth over the well-being of their employees.
• The concept of trust and ethics in business is called into question, with some arguing that it is naive to expect companies to prioritize anything other than profit.
• The amount of money involved in the sale is seen as a key factor in the founders' decision, with some arguing that it is unrealistic to expect individuals to turn down such a large sum.
• The company's culture and mission are seen as being at odds with the sale, with some arguing that the founders have abandoned their values in pursuit of wealth.