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.

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