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thijsniks's profile
Thijs Niks
Thijs Niks
Thijs Niks
@thijsniks

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Thijs Niks

@thijsniks

Product Manager for ☎️ at @WhatsApp / ❤️ retweets

San Francisco, CA
thijs.niks.nu
Joined February 2009

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    1. Joel Gascoigne‏Verified account @joelgascoigne 17 Dec 2018

      Happy to share that to end 2018, Buffer is doing a profit share with our team of $394,997. We're also committing to doing charitable contributions matching 20% of this amount, so $78,999. Thread with details around our methodology for profit share and charitable contributions 👇

      79 replies 315 retweets 2,177 likes
      Show this thread
    2. Joel Gascoigne‏Verified account @joelgascoigne 17 Dec 2018

      Last year was our first year doing both a profit share and charitable contributions. We did $300k profit share, and $50k in charitable contributions. So this year is a significant increase in both these numbers.

      2 replies 3 retweets 64 likes
      Show this thread
    3. Joel Gascoigne‏Verified account @joelgascoigne 17 Dec 2018

      Last year was also our first year of significant net profit. We see net profit as a vitally important metric for us as a company, since it's our true bottom line number. It's what we have left after expenses, taxes, everything.

      2 replies 1 retweet 70 likes
      Show this thread
    4. Joel Gascoigne‏Verified account @joelgascoigne 17 Dec 2018

      Here's a look at our net profit over the years: 2015: $17k 2016: loss 2017: $2.41m 2018: $3.29m (forecasted) We went from net profit in the low thousands to millions in just a couple of years. And we've grown net profit 36.5% from 2017 to 2018. 👌

      6 replies 18 retweets 247 likes
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    5. Joel Gascoigne‏Verified account @joelgascoigne 17 Dec 2018

      With our first significant net profit in 2017, we chose to do our first profit share with the team and charitable contributions as a company. This year, we've decided to formalize and commit to doing this every year we have net profit. We're tying both numbers to net profit.

      2 replies 3 retweets 64 likes
      Show this thread
    6. Joel Gascoigne‏Verified account @joelgascoigne 17 Dec 2018

      Going forward, we will share between 8% and 15% of net profit with the team, depending on performance and strategic uses of excess cash. And every year we have net profit, we will donate an additional 20% of the profit share number to charitable causes.

      3 replies 4 retweets 93 likes
      Show this thread
    7. Joel Gascoigne‏Verified account @joelgascoigne 17 Dec 2018

      For 2018, we decided to share 12% of net profit with the team. From our $3,291,645 in net profit, we're sharing $394,997 among the team. We're also donating an additional 20% of the profit share amount to causes the team care about. For 2018, that's a total of $78,999.

      5 replies 6 retweets 86 likes
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    8. Joel Gascoigne‏Verified account @joelgascoigne 17 Dec 2018

      How our profit share works: 50% is based on tenure (to celebrate the compounding impact of long-term team members + align with being a sustainable co), 25% based on salary (to account for varying pressure and responsibility), 25% shared evenly (to show how this is a team effort).

      6 replies 15 retweets 275 likes
      Show this thread
    9. Joel Gascoigne‏Verified account @joelgascoigne 17 Dec 2018

      I'm really excited that for the second year in a row we've had great profitability (not usual as a tech co!). I feel great that we've made a choice to share these great results with the team, and also that we've tied our own success to giving back.

      23 replies 1 retweet 218 likes
      Show this thread
      Thijs Niks‏ @thijsniks 18 Dec 2018
      Replying to @joelgascoigne

      Profitability is very common for tech companies, but less so for startups?

      4:13 AM - 18 Dec 2018
      0 replies 0 retweets 0 likes

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