Spinvox, the voice-to-text startup, has been on a roll: $100 million in funding from an impressive list of backers; then, a key deal with Telefonica covering its Latin America mobile operations, which bump its userbase to 150 milion (with some other contracts it claims it has yet to announce); and just yesterday, 600 registrations for its API set, which is getting the service embedded with other fast-growing mobile applications like Audioboo.
But there are signs that the company might be growing too fast for its own good — either that, or the spin for Spinvox is taking a turn in the other direction. PaidContent reports that Spinvox is offering employees shares instead of a salary. This is following an interview with Daniel Doulton, one of the company’s founders, who said that Spinvox would need more funding if it takes on more deals like the one with Telefonica.
Offering shares as remuneration is not uncommon or questionable on its own, of course, particularly in a climate where startup funding is at its lowest point in years. But now the news is ferretting out other anonymous gripes that Spinvox is not paying employee expenses and its suppliers.
A spokesperson from Spinvox has confirmed to us the share-for-salary offer. “This is a move which is entirely in line with Spinvox policy, spreading ownership among its people,” he says. But he would not comment on the other allegations. The company currently has 250 employees, down from 300 earlier in the year.
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