Editor’s Note: Each week Maynard Webb, former CEO of LiveOps and the former COO of eBay, will offer candid, practical, and sometimes surprising advice to entrepreneurs and founders. To submit a question, write to Webb at firstname.lastname@example.org.
Q. I started my company solo but brought on a cofounder a year in. It wasn’t the right fit and I let her go, though she has equity in the company and is on my capitalization table. I’m fundraising now and not sure what to disclose to investors. Also, I’m not sure if I call myself founder, or cofounder.
–Founder (or cofounder?) of a consumer startup
That’s exactly what I would call you, no question. You have always been a founder and though you once had a cofounder you no longer do.
I don’t think having someone on the cap table who is no longer a part of the company is uncommon. Don’t beat yourself up about the fact that the cofounder didn’t work out. It’s unfortunate but it’s not that unusual. When…