Equity
Overview
We are building Redivis to be a sustainable company — one that builds amazing software, drives research forward, and benefits its employees and the broader community. We're not racing towards an exit or trying to bump up our valuation. And unlike many startups, we don't have substantial investors, and don't plan on relying for VCs for future growth. This gives us incredible flexibility to think about how we can best distribute the gains from Redivis.
As such, we're very focused on distributing our profits to all our employees equitably — take a look at our salary and profit sharing information.
However, if we know one thing for certain, it's that we never know what the future may hold — equity may become incredibly important (and valuable!) in an exit event. With our equity plan, we want to ensure that everyone contributed to Redivis's success is fairly rewarded, and we're committed to bringing our value of transparency to the way we grant equity at Redivis.
Formula
Our equity plan allocates equity to all Redivis employees, past and present, who worked full-time at Redivis for at least one year. The goal of our equity formula is to reward everyone based on the duration of their time at Redivis, and the risk they took when joining Redivis.
Risk is of course a bit of an arbitrary concept, but we define risk based on how much work has been put into Redivis so far (measured as person-days). The assumption is that every time the cumulative work put in to Redivis doubles, the risk is halved. For example, if you join after 2,000 person-days, and another person joins after 4,000 person-days, you will accrue equity at twice the rate of this subsequent employee..
This formula provides flexibility in its ability to adapt as we grow — ensuring that currently employees are fairly compensated while leaving room for meaningful equity grants in the future.
As an illustrative example, the following table provides a breakdown of equity percentages assuming a 50-person, 2025 exit of $100M, with linear employment growth between now and then:
Employment start date | Previous days worked | % | $ |
2020-11-01 | 2,000 | 2.73% | $2,730,000 |
2022-01-01 | 8,000 | 0.68% | $760,000 |
2023-01-01 | 16,000 | 0.34% | $360,000 |
2024-01-10 | 64,000 | 0.09 | $90,000 |
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