Hi there, last week my website has been in the news in my country. I have worked on this website, which is a "social network", as a programmer for pretty much 4 years. This social network is not English, it's only for the country I live in. Although in this 4 years it was more of a side-project, I've spent countless hours developing and running it. User numbers were growing slowly though. Now with it being in the news, it quickly gained more than 10.000 registered users.
Now I see the opportunity of this thing generating actual money some day. And I'm not the only one. A experienced software developer contacted me. He just sold the last app he was working on completely on his own and now wants to move on. And he sees potential in my project.
I need someone with more experience than me, because there are quite a lot of things that aren't perfect. Also I simply don't have the time to do everything myself. Having said that, I cannot afford to hire someone yet. And here comes the catch: He wants 1/3 of the business. For that he will support me both from a mentor point of view and with the further development and marketing of the project. He has knowledge about parts of the business where I struggle. However, 1/3 seems like a lot to me, having spend to much time building this thing – even though I still don't make a huge amount of money with it just yet.
What are your thoughts on this? I know it's hard to judge not knowing everything. I'm just here for some basic advice, I don't want to make a huge mistake. Whether being accepting or declining the offer. I will definitely not go with 1/3, but 1/4 might be possible.