The general director of the Timepad event organization service, Varvara Semenikhina, and the company’s chief operating officer (COO), Sergey Shulga, received minority shares in the project, as follows from the Unified State Register of Legal Entities. The redistribution of shares was carried out within the framework of the top management motivation program, RB.RU has learned.
The changes were registered on February 6. Now the shares owned by TimePad Ltd. LLC are distributed as follows: 90% for Konstantin Gordon, 5% each for Varvara Semenikhina and Sergei Shulga.
“Share redistribution is part of the long-term motivation of key employees. Varvara remains in the position of general director, Sergei – in the position of director of operations,” Timepad told RB.RU.
Varvara Semenikhina, CEO of Timepad, also clarified in a conversation with RB.RU that the company’s development vector is the service of event organizers and creators who create different experiences and impressions for people. “The overall goal of the team is not only to become a technical partner, but also to help with partners’ sales, growth and business development,” she added.
As a rule, shareholders accept programs that encourage employees to achieve key indicators, and top managers receive shares for approximately the same amount as in the case of Timepad, noted Emil Yusupov, partner at the Intercession law firm.
The amount of the part contributed depends on the agreements of the parties, adds Ilya Aleshchev, partner at the Alimirzoev and Trofimov law firm. “In our experience, for existing companies the typical size is units or fractions of a percentage; for startups, the size can be larger,” Aleshchev said.
The current change in Timepad’s ownership structure is the second in a year. Thus, in April 2023, 100% of the shares of TimePad Ltd. LLC passed from the co-founder of Qiwi Sergei Solonin to the former co-owner of Like Center Konstantin Gordon. The parties did not comment on the agreement at that time.
- Timepad was founded by Artem Kiselev, Lyudmila Pavlova and Daria Ustyuzhanina in 2008. The company specializes in ticket sales and helps organizers manage events by taking on “technical and accounting tasks.” The monthly volume of tickets sold, according to our own data, exceeds 731 thousand.
- According to the Kontur.Focus system, at the end of 2022 TimePad Ltd. LLC reduced its net loss to 69 million rubles from 86.8 million rubles in 2021. The service shows a loss since 2020. Revenue in 2022 amounted to 152 million of rubles, 11% less than in 2021.
Author:
Anastasia Marina
Source: RB
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