Coinbase joins Pinterest in doing right by employees - Fortune

posted on 07 Aug 2015 15:35 by biginformation173
Coinbase presently features about 100 employees, and plans to incorporate at least another 25 more than the actual subsequent year.

"This is actually a lot much more meaningful for employees when compared with providing these people something similar to free massages," says Coinbase co-founder and CEO Brian Armstrong, whom says he was influenced from the Pinterest decision.

Here was your concluding line: "The big problem now's if some other Silicon Valley 'unicorns' will observe Pinterest's lead."

Kudos for you to Coinbase for carrying out proper by its employees. This had been a huge deal since many tech startup workers tend to be heavily compensated through stock options, but that they are forced either to exercise or perhaps shed vested options upon departure -- something that not only needs sufficient money to purchase your options, but throughout addition for you to give the onerous tax bill.

Armstrong adds that absolutely no present Coinbase employee had agitated for the change, but which he became a lot more aware of your "golden handcuffs" problem when attempting to recruit using their own company startups. "One candidate even talked about your Pinterest factor on the phone with me in night throughout an interview, and also mentioned he by absolutely no means again wanted to function for any company which locked him in.". My guess is often that they'll additionally figure out some thing for active employees who want to go on, yet this is a bit trickier from a regulatory perspective. Today what's everyone else waiting for?

The basic solution was... nope. To Always Be Able To my knowledge, not a single other major startup has been doing the same. Well, until today.

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In March we wrote about how precisely Pinterest had made a significant move inside the interest of employee justice, permitting workers with at least 2 years of support for you to retain vested stock choices for approximately seven a extended time following departure (voluntary as well as not), instead of your traditional 90 days. Coinbase, a digital wallet company that has raised over $100 million in VC funding, today will announce any comparable program for brand name new employees (i.e., individuals joining this month as well as onward)