On launched with 300k CHF cash and 150k CHF sweat equity
Caspar Coppetti · On athletic shoes: Olivier Bernhard and Caspar Coppetti · Jul 22, 2024 · at 40:13
Caspar Coppetti describes how On's three co-founders structured the initial capitalization of the company in 2010.
0:00 / 0:13exact quote · 13.0s
720p mp4 · rendered on demand · StarZero watermark
“Yeah, so we each put the 150,000 in, and Oli didn't have the cash, so we basically Took his efforts so far into the company and valid that at 150. So, so that's how we started.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Caspar Coppetti
Coppetti conditioned joining On on ousting co-creator George Brunsweiler
“And so I made a pretty bold move and said, yes, I'm going to get involved, but without you, George.”
On founders faced mandatory share forfeiture for any side income
“We actually wrote in our shareholders agreement, and it lived there all the way through the IPO. We put down this thing when if someone, someone of us took another job or, you know, even like a side hustle or any income from any other source, we would have to …”
Coppetti: Trying to compete directly with Nike is suicide
“And frankly, you know, if you look at the Under Armour story, to try to compete directly with Nike is suicide.”
On's partnership agreement with Roger Federer fit on a single page
“Literally our agreement fit on one page. And it had none of the usual clauses, like no minimum days that he has to you know, spend with us. No, no licensing fee, nothing.”