GrubMarket faces trial against alleged co-founder seeking 10% stake in company - San Francisco Business Times

San Francisco food delivery unicorn GrubMarket is facing a lawsuit from a man who claims he's owed 10% of the $2 billion company.

The case centers on a contract Nathanson alleges Xu signed with him in 2014, according to Nathanson's complaint. That contract is the basis on which Nathanson claims to be an equity partner, co-founder and the vice president of business development of GrubMarket Inc. According to the signed contract attached to the plaintiff's complaint, Nathanson's employment began in April 2014 and lasted for three months, during which he received a monthly contract payment of $2,500. The contract states that Nathanson would receive 10% of the company's equity once the company raised $500,000 in funding but accuses GrubMarket of not informing him when it met that milestone.

In its initial response to the lawsuit, GrubMarket said that Nathanson did not “satisfactorily” perform his role and that he was too late in filing his claim.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Winners named for the 2022 BayAreaCIO ORBIE Awards - San Francisco Business TimesWinners were revealed at the awards event, held September 9 at the Hyatt Regency Santa Clara.
La source: SFBusinessTimes - 🏆 78. / 68 Lire la suite »

Swathi Bonda joins Lendlease as Senior Vice President - San Francisco Business TimesShe will lead development of Hayes Point at Market and Van Ness streets.
La source: SFBusinessTimes - 🏆 78. / 68 Lire la suite »

Stacy Blanchard of Accenture - San Francisco Business TimesMeet the Business Times' new class of Most Influential Women in Bay Area Business.
La source: SFBusinessTimes - 🏆 78. / 68 Lire la suite »

Small businesses expect a recession, but hiring plans remain robust - San Francisco Business TimesAfter navigating the pandemic, supply chain headaches, a labor shortage and soaring inflation, most small businesses are confident they can weather a recession — and they do believe one is coming.
La source: SFBusinessTimes - 🏆 78. / 68 Lire la suite »

Samantha Palmer Amgen Ventures - San Francisco Business TimesMeet the Business Times' new class of Most Influential Women in Bay Area Business.
La source: SFBusinessTimes - 🏆 78. / 68 Lire la suite »