Ong: 2016 Startup Collapsed Over Inflexible Co-Founder Equity Split
Alaric Ong · Pay Dividends To Investors Before Startup Founder Gets Any Pay? · Apr 21, 2021 · at 5:11
Entrepreneur Alaric Ong explains why his 2016 Singapore-based food delivery startup folded after six months to host Nathan Latka.
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“The main reason why the business didn't take off was because of the equity split, right? Yeah. So the business didn't work because the equity split, because one of my partners, he had to go for national service. And so he couldn't contribute to the business anymore. So when I wanted to buy out, I wanted to like, you know, resplit the equity. He didn't want to give up his equity, even though he couldn't contribute to the business anymore. So that's why the business didn't take off.”
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