will web developers work for free?

[Denver]

So I've had this idea for a while now, have compiled a small team and have investors interested. VCs are wiling to invest 2 million dollars in the idea but for 80% control of the company with clawback options. I have since found that if i can create a working model here in denver before getting investors involved, i can likely keep the controlling share of my company.

Now, I need to find a web developer or two, but since our team (4 members) all have full time jobs and are moon-lighting the project, we were hoping to find a developer to do the same. Work for free in exchange for a share in the company and a lead job in structuring our future development team as we grow.

Isnt this how facebook started? are developers willing to do this for a chance for a bigger payoff and a secure job in the future or is it asking too much?
Ive posted job requests on sites like craigslist but get back mostly replys from web development teams willing to bid on the project (even after stating what we are looking for).

Is there a better way to go about this? your advice is greatly appreciated.

[Curtis2011]

Originally Posted by Denver

Work for free in exchange for a share in the company

I'm not a freelance web developer, but from what I've seen and heard from others, this statement is perhaps the single most annoying thing a freelance developer can hear. The reasons are 1) nobody likes working for free, 2) most good ideas never turn into good products anyways, 3) people's "good" ideas tend to be a lot worse than they themselves believe, 4) the company owner usually wants to be in creative control but not actually do any work himself, and 5) freelance developers get requests like this all the time, mostly from people who are brand new in the web development arena and thus are idealistically over-optimistic about their project, often having no real idea what they are doing.

In other words, you might be able to find a developer who is new to the freelance scene and has not learned the wise experience "don't work for free" yet. However, my guess is that most experienced web developers will completely ignore you, unless your pitch is so amazing that they themselves actually want to become a part of what you're doing.

Also out of curiosity: just how much work has to be done before you have a working prototype? Would it really be that expensive to pay for it yourself?

Is this a massive project (eg build a new facebook) or small project (eg build a funny flash website)?

[danthony]

It might be possible if you have good enough incentive and be willing to offer shares in the company when all said and done. They are amazing developers out there - you posisbly just have to find those that are looking some other intrinsic value other than money as reward. Especially, if it's bragging rights in the next big for first to market.

[Denver]

Originally Posted by Curtis2011

I'm not a freelance web developer, but from what I've seen and heard from others, this statement is perhaps the single most annoying thing a freelance developer can hear. The reasons are 1) nobody likes working for free, 2) most good ideas never turn into good products anyways, 3) people's "good" ideas tend to be a lot worse than they themselves believe, 4) the company owner usually wants to be in creative control but not actually do any work himself, and 5) freelance developers get requests like this all the time, mostly from people who are brand new in the web development arena and thus are idealistically over-optimistic about their project, often having no real idea what they are doing.

In other words, you might be able to find a developer who is new to the freelance scene and has not learned the wise experience "don't work for free" yet. However, my guess is that most experienced web developers will completely ignore you, unless your pitch is so amazing that they themselves actually want to become a part of what you're doing.

Also out of curiosity: just how much work has to be done before you have a working prototype? Would it really be that expensive to pay for it yourself?

Is this a massive project (eg build a new facebook) or small project (eg build a funny flash website)?

I understand what your saying and is this answer i expected to get. Being that this is my first entrepreneurial project, I expected to get the overall impression that my idea was not as good as I was thinking it was. However, Investors seem to be just as excited about the project as i am (I do take this with a grain of salt).

Its quite a large project. the niche is in the entertainment industry and involves the sharing of all multiple types of media. I went to investors projecting i could have the site built for around 50k but they laughed at the thought and figured it would take around 2 million over the course of 3 years before we started to see returns.

I am considering taking the investment, but i feel i will get burned giving up an 80% share. lots to think about.

[Denver]

**involves the sharing of multiple types of media.

[VinceG]

Why not just take the $2m? Then turn around and ask your new owners what to do. 80% of the business isn't venture capital, it's a buyout.

[Brutha]

If I would start a company together with other people and work a few month for free I don't think I would trust people that I meet via craigslist enough.

I would rather start a company with people that I meet in person.

[Denver]

Originally Posted by Brutha

If I would start a company together with other people and work a few month for free I don't think I would trust people that I meet via craigslist enough.

I would rather start a company with people that I meet in person.

I was hoping to get a response from you brutha. So if someone you just met pitched you the idea and told you that you would have a huge part in guiding and shaping the company, you wouldnt do it? hmmmm what would be a better way to meet people so they would be more comfortable working with you? im a graphic designer so i dont really have connections with programmers. looks like im gonna have to shell out the cash. I may have to sell my house and move into an apt to do so, but im willing to do anything to get this idea off the ground.