"“This program reflects the enduring company we want to build. It applies to all full-time employees meeting performance expectations on their work anniversary. The longer someone stays at Lovable, the more deeply they understand the company, contribute to its momentum, and shape its culture,” Maryanne Caughey, lead of Lovable's people team, told TechCrunch."
"“While most companies do have stock and profit-sharing plans, what's different here is that Lovable is sharing the wealth as a direct raise, not contingent on vesting schedules or the employee kicking in cash to convert stock options into actual shares.”"
"“In the U.S. corporate world, employees don't generally get built-in raises unless they've unionized, and even then, a 10% raise across the board is typically spread over multiple years of a contract, not delivered annually.”"
"“In some months, it has said, it grew annual recurring revenue by $100 million. Lovable claimed in March that it had already crossed $400 million in ARR and, at one point, projected hitting $1 billion in ARR by around the end of the year.”"
Lovable, a Stockholm-based vibe-coding platform, is growing revenue rapidly and sharing that growth through a direct compensation promise. The company voluntarily guarantees a 10% salary raise for all full-time employees on their work anniversaries, as long as performance expectations are met. The raise is delivered annually rather than being spread across multi-year arrangements. The approach differs from typical stock and profit-sharing plans because it is not contingent on vesting schedules or requiring employees to pay cash to convert options into shares. Lovable is about 200 employees and plans to reach 400, while adding revenue quickly enough to fund the permanent salary overhead.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]