Where to start? The info is too vague to give a specific answer, but your topic merits discussion and questions.
It’s all about how you are valued…
> If they’ve raised $50,000, why can’t they give you some cash? A small amount of cash is very big compared to none. Also shows they value you.
> Don’t agree to deferred cash, you usually never see this.
> Ask to see the bank account, proof of investment. Often this is a “story” or a hypothetical.
Talking to CEO and CTO about role as co-founder/COO. First 6 mos are unpaid, they invested 50,000 each so far, and I won’t be required to invest anything but time. How much equity should I ask for?
> Too many startups now devalue anyone who is not a developer. You need to be positioned as an equal partner, regardless of equity or title.
> The cofounder title is much easier to give away then real stock.
> What are the terms of the equity, same class of shares as them? Vesting?
> Do you have another job? Are you quitting a job? Keeping it? Your equity depends on all of these?
> bottom line – if you’re asking this on quota, it sounds like you already have major reservations. If you really want to be in a startup, want to have the COO title, love their strategy and technology, trust them, and aren’t working right now, maybe go for it.