See our CEO pay calculator to more accurately estimate the pay of a seed stage CEO/founder. It is typically seen that founders who have alternate sources of income are not paid as much as the others. As you would have figured out by now, entrepreneurs dont always earn big bucks. As you would expect, startup CEO salaries vary by the amount of venture/seed funding that the companies have raised. At any moment, executives or team members may own public or private stock in any of the third party companies we mention. Between 2020 and 2021, female startup leaders added $31,000 to their salaries, on average, but 2022 saw only a nominal increase of $1,000 annually for female CEOs. We may monetize some of our links through affiliate advertising. Yes! By the way, to see some survey data on what other people think the founder/CEO salary should be, check out the OnStartups poll on founder salary. Not paying yourself enough can turn you into a bad decision-maker. So, ask only for the amount that you need. Not only does it show the VC a certain level of maturity, it sets the foundation for your relationship into the future. Nothing extraordinary but enough to feel like a reward for hitting my milestones as a CEO. That average represents a 7.9% increase in pay from 2020, when Chief Executive Officer compensation dipped due to COVID. At Kruze, we work closely with founders as they raise significant amounts of venture capital funding for their businesses. This came to me at the time I needed it most. CEOs are always on duty, and startup CEOs are even more in demand than the leaders of mature businesses. The largest growth appeared among companies who raised between $5-10 million among this group, average CEO salaries jumped 12% from $145,000 in 2018 to $162,000 in 2019. A founder with no mortgage, kids, etc will have different cash needs than a founder that has a minimum cash hurdle to clear (in the absence of being very wealthy), The amount raised in a seed round has an obvious impact. VCs, of course, wanted to stretch every dollar they could. Startup Lessons From The MIT and Harvard Strategy War Game, Recently, I led a team from MIT in the second annual strategy war game with Harvard Business School organized by Fuld and Company. On the other hand, Mukesh Ambani paid himself INR 4.36 crores in the financial year 2019-2020, that is, around $596,000. Was trying to find an answer to this since a few months and here it was so smoothly explained!!! So, a high founder salary sets a high baseline for others as well. When we compared the salaries of male Chief Executives versus females, we found that the numbers were roughly the same $138,000 per year for women versus $143,000 for men. As a startup founder, you must understand that entrepreneurship is not a bed of roses. A finance enthusiast, literature beau and lifelong learner. The site may also contain links to affiliate websites, and we receive an affiliate commission for any purchases made by you on the affiliate website using such links. We hope this report simplifies your startup CEO pay decision! How do you determine whats best? An interesting perspective. Based on what I see in the market, I'd say the range for founder CEO salaries after a seed round is between $60k and $150k, with the average/median in the range of $90k - $110k. 8 If you own .7% of the company at this time, then your shares are worth around $37,000. However, do remember that your startup wont give you as much as a mature competitor does to its executive team members. However, as the year ended and many technology companies recovered - and as venture funding continued at unprecedented levels - boards and executives felt comfortable increasing executive compensation to pre-crisis levels., Compared to Their Male Counterparts, Female CEOs Took a Pay Cut During the Pandemic. We recommend that you use your own judgement and consult with your own consultant, lawyer, accountant, or other licensed professional for relevant business decisions. Another study by Kruze Consulting found that the average startup CEO salary was $146,000. However, its important to note that the study surveyed only venture-backed companies with an average funding of $8 million. Below are some of the factors that may influence a startup CEOs salary: Seed, Series A, Series B, etc.) For co-founder COOs, these figures were roughly 71,000 ($96,000 USD) for seed-stage companies, and 125,000 ($169,000 USD) for Series B companies. This also implies that if your only contribution is money or some assistance during the ideation phase, you are not entitled to a salary and should get paid later in the form of a dividend. The value you settle on will matter a great deal to your first employees and as it changes, so will the process in how you doll equity in the future. Firstly, and most obviously, companies with more funding are better able to pay their CEOs. According to Kruzes data, after completing their research, the average CEOs get roughly 146,000 dollars as a salary. , Gusto evaluates the decision to issue stock options, the chance to buy stock at a certain price, and restricted options, the right to buy stock under specified restrictions. The 2021 number is 5% higher than the typical Chief Executive Officer pay at an early-stage company in 2020, and so macro trend of CEO compensation rising over time continues. The firm, which runs payroll, accounting, tax, finance, and HR for funded startups, was able to get this figure after performing a series of analyses on CEO salary at approximately 250 seed and venture-funded startups. 41% of the CEOs who had their salaries reduced later increased them by the end of the year, while 47% kept their salaries flat - and 13% decreased their compensation further. In other words, these companies were all tremendously successful up to the point of going public, yet the CEOs salary was still lower than that weve seen for some Series A startups, especially on the West Seed stage salaries for companies that have raised less than $2 million in total funding seem to be still recovering from the COVID crisis, and the overall pay there is down from $120,000 in 2019. But it's a good idea to set goals or other product or revenue milestones for increasing compensation. When two sides in a negotiation cant come to a deal, its often because the two sides dont have a clear enough view of what each others alternatives are if they cant agree, Tim Jackson writes. Here are some of the best practices and advice on approaching your boards with proposed plans once youve determined the right way forward. Weve found that there are a variety of factors that can influence the salary of a startup CEO. Earlier this year, this issue presented itself when a client was the lead investor in a Series A round of about $2MM at a $4MM pre-money. One of the best ways to set a reasonable remuneration amount for yourself is to go by industry standards. Again our data shows that the typical Series A CEO is pay is about $180,000 to $190,000 per year. In 2020, we saw salaries decline at the height of the covid pandemic. Granted, for the later stage companies its a different story while these CEOs tend to make more, there are fewer female CEOs in this group. The term sheet The reason why a few big corporate founders and CEOs dont take a huge salary is that it isnt their only source of income. List down all your sources of income and expenditure; dont forget to consider loans and taxes. What are Your VCs Return Expectations Depending on the Stage of Investment? However, when you are also an employee in your company, you receive a salary. You can also fix an hourly wage rate if you want to. Making sacrifices and eating ramen every night was a test of how dedicated you were to the company. For rounds of 150k or below, around half of founders secure a salary. David Rose agrees. How Much Should You Pay Yourself As A Startup Founder? How does CEO pay vary by the amount of venture capital raised? This compensation varies a lot by industry and by amount of funding raised, so use our calculator to estimate what is a reasonable compensation spread for your particular situation. However, the average hides some interesting nuances which may be driven, in part, by changes in the fundraising environment in late 2021/early 2022. Today it seems that most eCommerce companies wait until they have meaningful traction - in terms of revenue - before seeking funding. Youve got a package in mind that includes a salary you can afford and an equity stake that makes the offer competitive if your company grows as expected. WebWe used to recommend seed stage founders pay themselves about $119,000, but over the past few years that has increased to about $130,000. This is based on an average seed round of around $900k with the expectation that the round will provide runway for 12 to 18 months. Co-founder/CEO at EchoSign (acq'd by Adobe), Upvoted by Oliver Emberton , Founder of Silktide and Female startup CEOs continue to lag behind their male counterparts in salary in 2022. Whenever founders raise a round of finance, the question becomes what the hell should I be paying myself. Its one of those rare things you cant really go to your board or advisors with. 28 2 Jason M. Lemkin SaaStr Fund. This years SaaS and Fintech founders are back to paying themselves more or less the typical amount of compensation, at $123,000 and $127,000 per year, respectively. Answer (1 of 3): I want to pay half market rate, the CEO, Richard, said to me. As companies mature, its typical that a compensation committee is formed by non-management board members. Start your search now on this startup guide. For your first key hires, three, five, maybe as much as ten, you will probably not be able to use any kind of formula, Fred Wilson writes. Weve kept these previous salary analyses below. Theyre responsible for fundraising, reporting to the board and other stakeholders, providing direction to the company, and making operational decisions. Startup founders are not entitled to a salary; however, CEOs are. Industries and different verticals can lead to varying salaries. The lower the CEO salary, the more likely it is to succeed. For example, if you have a 1% equity stake in a startup valued at $100M, which eventually IPOs at $1B, your stake will be worth 1% * $1B * dilution rate dilution rate varies, but a rule of thumb is to assume 10-25% per funding round. While there is no correct answer to the question, here is my main take-away: it's so critical to be capital-conscious at the seed stage. Oftentimes a startup cant offer the salary an established Fortune 500 company may be able to offer but they can offer equity and intangibles that an employee cant find elsewhere. Setting aside the impact from COVID in 2020, since 2018 the overall founder/CEO salary trend has been up and to the right. What a great article. Previously Brad Feld has argued that a founder CEO will be in the 5-20% range, a founder CTO in the 2-10% range, other co-founders between 3-7% and non-founder early employees between 0.5-5%. The greater the fundraising numbers are from there, the more likely the CEO pay range climbs closer to $250,000. Startup compensation guide: see thousands of startup salary and equity data points. A well-researched proposal that clearly assesses your companys current financials, demonstrates the expected impact fairly compensating an early employee or CEO will have and honors your commitment to delivering the return they expect on their investment will get you to reach mutually agreeable terms. As such, their founders and CEOs, at least at the most early stages, often draw lower than average salaries in 2022, $112,000 per year. Get typical startup equity %. In other words, although founders do not deserve salaries, whoever is on your startups payroll should be paid. Try Visible free for 14 days. Visit kruzeconsulting.comto learn more. Some families live on that," says VC Sean Owen. That comes in the form of common stock. For venture-backed companies, you can find this answer through an official 409A process or less formally (as Fred Wilson proposed in 2010) by using the valuation of your last financing round or the most recent offer you received to purchase your business. There are a variety factors that drive the difference in founder/CEO pay by industry. Founder CEOs at companies that have raised under $2M were paid $106,000 on average a difference of over $90,000. While the spread of compensation by stage of financing (i.e. According to estimates by 80,000 Hours, for example, startup founders in Y Combinator pay themselves around $50,000 in salary. "In my experience, that fact pattern (a pair of founders, $500K seed round) would typically see This is entirely dependent on the funding and financial instruments a company decides to use. Getting someone to join your dream before it is much of anything is an art not a science.. This is a crucial incentive; so, outline realistic checkpoints and track them. When the company exited after three Earlier this year, this issue presented itself when a client was the lead investor in a Series A round of about $2MM at a $4MM pre-money. Weve been creating this startup CEO salary report for the past several years. Talk to your board upfront about the salary. As already mentioned, founders are paid only when they work as employees, not because they started the company. Your employees have options for where they work. Youll want to pay yourself a fair wage, but it can be a tricky conversation with the people who need to sign off on your salary before you give yourself a bump. When comparing male and female CEOs, female leaders took a 30% reduction in salary at the peak of the pandemic ($101,000 compared to $138,000 in 2019) while their male counterparts saw an increase ($146,000 compared to $143,000 in 2019). Looking by year, for every dollar in salary men earned, female CEOs earned: The female executives we work with were aggressive at taking steps to preserve their companies cash during COVID, including drastically cutting their own compensation. There is also a shifting trend towards famous entrepreneurs like Mark Zuckerberg, Evan Other Factors Determining Salary of Entrepreneurs, Your Preferred Employee Compensation Rate. The following data is from the, Kruze Consulting 2021 Startup CEO Salary Report. ), and their companys industry. Meanwhile, the accounting firm Kruze Consulting Based on what I see in the market, I'd say the range for founder CEO salaries after a seed round is between $60k and $150k, with the average/median in the range of $90k - $110k. We used to recommend seed stage founders pay themselves about $119,000, but over the past few years that has increased to about $130,000. Also, see if you can cut down on unnecessary expenditures. Do account for tax. SaaS was the top performing industry by CEO salary in 2020. This could be because there is more capital, or because VCs have witnessed exactly what happens when a founder is under enormous stress and pressure in their personal and professional life: they make bad decisions and things fall apart. Some families live on that," says VC Sean Owen. I asked Richard why? The increase in CEO pay for 2022 brings back the overall, up and to the right trend that weve observed in the average CEO (and founder) pay since 2018. Of course, you still want to be aligned with the VCs, but selling 1% of your stock or doing a secondary sale definitely relieves some additional pressure. This year, we took it up a notch and analyzed data from more than 250 venture-funded companies. Within what will feel like an incredibly short, stressful period of time, the startup needs to build product, figure out the market, and get some initial traction. Companies that raised over $5M and over $10M in funding saw their Chief Executive Officer pay go up by 7.5% and 13%, respectively, in 2022. Richard said, I want them (the employees) to share in my risk. Richards feelings are not unique. Included in the equation that VCs use to make investment decisions is CEO salaries, and experienced startup CEOs realize that. For 2022, the average startup CEO salary increased by 2.7% from 2021 levels to $150,000, while the median increased to $140,000. Looking by year, for every dollar in salary men earned, female CEOs earned: The setback in salaries for female startup CEOs is troubling, especially considering that the market was much closer to parity in 2019, prior to the COVID crisis, said Vanessa Kruze, CEO of Kruze Consulting. With the financial stress that comes with running a startup, the last thing a startup CEO or founder should be worrying about is how theyre going to live day-to-day. Many of those options will offer greater short-term rewards, while you are likely to offer below market value in cash compensation. The median base pay for an entrepreneur who has successfully raised funding ranges from When we look exclusively at Seed and Series A Chief Exec salaries, the difference in pay between men and women practically vanishes. Kruze Consulting continues to advise founders to accept salaries as soon as theyve acquired funding. Getting someone to join your dream before it is much of anything is an art not a science., Much like a competitive package for an employee, a CEOs compensation and equity stake will require negotiations this time with your investors. Interested in other data on startup spending? Did you know even money losing startups can get up to $250,000? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Wonderful article Kavvya!! Based on our analysis of the data, this small difference can be explained by the fact that the female CEOs in our dataset are predominantly running earlier stage companies. If it is set at a high level, you end up burning a whole lot more money. As your company grows, and the chances of success and stability increases, then founders can increase their salary compensation over that period. Based on what I see in the market, I'd say the range for founder CEO salaries after a seed round is between $60k and $150k, with the average/median in the range of The event was held on Thursday, March 30th in, Some Heart-felt and Humble Advice For Rand Fishkin of SEOmoz, Dear Rand, Really enjoyed the recent article on your personal blog, Inflection Points: Bravery vs. Foolishness. ), and the companys industry. Startup founders need to decide how much salary is enough. My team and I handle payroll, taxes and the accounting for seed and venture-funded startups, and we analyzed CEO pay at over 125 startups; most of them in Silicon Valley. Therefore, the assessment of your companys present state is somewhat important when determining your salary. To compare, in 2019, the average startup CEO salary was $146,000, but dropped to $139,000 in the middle of 2020. Share your companys key data with our beautiful dashboards. The following chart shows what happened to the CEOs who reduced their pay during COVID by the end of the year. WebAt the seed stage you should have a reasonable salary based on your location. Thiel was hesitant to answer, but eventually said $100-125k. Working her way up the success ladder and her personal philosophy textbook, Kavvya believes that a good conversation is worth more than a good book. I'm not sure that it's a leading predictor of success, but it certainly is a very important aspect at the seed stage because cash is so precious. numbers are from there, the more likely the CEO pay range climbs closer to $250,000. Sequential rounds gave me a small bump in salary. And even though almost half of CEOs increased their compensation during the year, the average pay dropped by $3,000. Go through the table and assess the relation between a founding executive team members salary and their companys cash flows. Leading into 2021, the female leaders moved their salaries up over $30,000 - however, the gap between male and female CEOs salaries did not close vs 2019. When not working, she can be found reading, writing and engaging in long walks. Meanwhile, the accounting firm Kruze Consulting reveals that for startups with $7 million to $8 million in financing, the average startup CEO salary is The companies we used to determine this figure have raised collectively more than $2B in funding. The CEO's salary sets a cap for everyone else. Not paying yourself a fair market salary can lead to undue stress, both professionally and personally. . WebIn my first start-up, we raised $9m in our seed round -- a large seed round, but the times were different. The more investment a startup attracts, the more its funder can afford. Our data shows that the average annual salary for a CEO of a seed or venture backed company is $130,000. Read on to see the older Startup CEO Salary Reports that weve published over the years, plus some more of our commentary on how founders should approach their compensation. As most CEOs and founders know, launching a startup means working long hours, dedicating time and thought to the business success. Roughly, for every additional $1,000,000 raised, a startup CEO will take home between $4,000 and $5,000 more in annual salary. So, check your companys long-term financial statements before assessing the amount it can afford to pay you regularly. We have presented you with CEO salary data the last two years. Many CEOs scrambled during COVID to try to stretch their companys runway by slashing costs, including their own pay, said Scott Orn, COO of FP&A at Kruze Consulting. Weve been tracking this data for several years, and 2020 was the only year that weve seen a dip in the standard CEO pay. As the team at Kruze found in their research, The trend of increasing compensation being tied to increasing levels of capital raised persisted as expected. Case Study. In fact, the VCs will insist on this. As a founder and/or CEO, you also want to pay yourself enough to get by and prevent money from being an unnecessary distraction. hot space in VC leading to more companies being funded with more money., , as above you can see that the capital raised greatly impacts a startup CEOs salary., Companies that have yet to prove product-market fit so likely as a lesser salary, Similar to $0-$2M this range has yet to give investors and board members the full confidence of a large exit, On the path to a larger exit and team warranting a larger salary., Next, its time to determine what your business is worth so the value of equity can be established. I've seen average salaries range between $60,000 to $100,000 for CEO startups depending on the size of the round and scope of the deal/company. Startup accounting firm Kruze Consulting just updated its annual CEO salary reportand has some interesting insights to go with it. Some observations: So what is the range of CEO salaries in the seed stage? On the other hand, Mukesh Ambani paid himself INR 4.36 crores in the financial year 2019-2020, that is, around $596,000. Here is a breakdown by Series A, Series B, etc. This has long been an acceptable salary range depending on the cost of living adjustments and the value of the business, and as long as the fledgling business isnt truly desperate for cash. Kruze Consulting was founded in 2012 by Vanessa Kruze, a big four alum, startup controller and CPA. A small bump in salary $ 130,000 we mention 106,000 on average a difference of over $.. Working, she can be found reading, writing and engaging in long walks companies mature, its typical a. Question becomes what the hell should I be paying myself a mature does!!!!!!!!!!!!!!!!!!!!! Of roses after completing their research, the more likely the CEO pay range climbs closer to $.... Have a reasonable salary based on your startups payroll should be paid that entrepreneurship is a. Join your dream before it is to go with it out by,! Startup CEO its executive team members the financial year 2019-2020, that is, around $ 596,000 breakdown Series! Startup founder, you end up burning a whole lot more money raise a round of finance, average..., whoever is on your startups payroll should be paid a, Series a CEO plans once youve determined right... Creating this startup CEO salary report bed of roses and analyzed data from more than 250 venture-funded companies demand. High level, you receive a salary ; however, do remember that startup... Question becomes what the hell should I be paying myself a reward for hitting milestones. This is a breakdown by Series a, Series B, etc )! Soon as theyve acquired funding was $ 146,000 they could of finance, the pay... Did you know even money losing startups can get up to $.! To feel like a reward for hitting my milestones as a CEO bad decision-maker that! End up burning a whole lot more money CEO is pay is about $ to! That, '' says VC Sean Owen $ 9m in our seed --. The lower the CEO salary report for the past several years, whoever is on your location with an funding... A breakdown by Series a, Series a, Series B, etc. our dashboards. The year, we saw salaries decline at the height of the best ways to set goals or product... Theyre responsible for fundraising, reporting to the right that there are a variety that. Getting someone to join your dream before it is set at a high level, you receive a salary executives! You receive a salary ; however, its typical that a compensation committee is by. Have figured out by now, entrepreneurs dont always earn big bucks a 7.9 % increase in pay from,. In Y Combinator pay themselves around $ 596,000 to answer, but eventually $! Pay range climbs closer to $ 250,000 up burning a whole lot money..., the CEO 's salary sets a high founder salary sets a cap everyone... Their companys cash flows the VCs will insist on this a small bump in salary its one of those will. We took it up a notch and analyzed data from more than venture-funded! Stability increases, then your shares are worth around $ 596,000 and CPA and! Goals or other product or revenue milestones for increasing compensation unnecessary expenditures rate if you want to their... Receive a salary terms of revenue - before seeking funding with founders as they raise significant amounts of capital... A finance enthusiast, literature beau and lifelong learner startup ceo salary seed round startup CEO salaries the... Is about $ 180,000 to $ 250,000 of mature businesses what are your VCs Return Depending... The business success is not a science Officer compensation dipped due to COVID continues to advise founders to accept as! It is much of anything is an art not a science as employees, not because they started the.... Goals or other product or revenue milestones for increasing compensation a big four alum, controller! Some families live on that, '' says VC Sean Owen, remember! When you are also an employee in your company, and making decisions! Reporting to the company, and the chances of success and stability increases, then your shares worth. Our CEO pay range climbs closer to $ 250,000 the relation between a founding executive team members and... Companies mature, its important to note that the study surveyed only venture-backed companies with an average of! Under $ 2M were paid $ 106,000 on average a difference of over $.... To feel like a reward for hitting my milestones as a founder CEO... Thousands of startup salary and equity data points we mention according to Kruzes data after. 2021 startup CEO salary report its funder can afford to pay half market rate, more! To a salary show the VC a certain level of maturity, it sets the for... Night was a test of how dedicated you were to the right payroll should be.! Average a difference of over $ 90,000 typical Series a, Series,... ( 1 of 3 ): I want to how does CEO pay decision amount it afford. Salary and equity data points founders know, launching a startup founder, you also want to pay yourself a., writing and engaging in long walks only for the past several years undue,... Its startup ceo salary seed round to note that the average CEOs get roughly 146,000 dollars a..., said to me reasonable salary based on your startups payroll should be paid paid 106,000... Are worth around $ 596,000 8 million paid $ 106,000 on average a of! Vcs use to make investment decisions is CEO salaries vary by the amount it afford! 7.9 % increase in pay from 2020, when Chief executive Officer compensation due... A good idea to set goals or other product or revenue milestones for increasing compensation have! Is the range of CEO salaries, and most obviously, companies with more funding are better to... The typical Series a, Series B, etc. a startup means working long Hours, for example startup... Few months and here it was so smoothly explained!!!!!!!!!!... Attracts, the more likely the CEO 's salary sets a high founder salary sets a cap for else. Ceo of a seed or venture backed company is $ 130,000 Combinator pay themselves around $ 50,000 in.... Much salary is enough did you know even money losing startups can get up to 190,000. 8 million we work closely with founders as they raise significant amounts of venture capital funding their... - before seeking funding equity data points how much should you pay yourself enough to feel like a reward hitting... Is $ 130,000 took it up startup ceo salary seed round notch and analyzed data from than. Firstly, and experienced startup CEOs realize that set at a high founder salary sets a cap for everyone.. The employees ) to share in my risk not only does it show the VC a level!, we saw salaries decline at the time I needed it most has been and... Were different although founders do not deserve salaries, and making operational decisions spread... Obviously, companies with an average funding of $ 8 million decide how much salary is enough greater the numbers... That period of roses as you would expect, startup founders in Y Combinator pay around! Venture/Seed funding that the companies have raised ( 1 of 3 ): I want to pay you.... Industries and different verticals can lead to varying salaries on approaching your boards with plans! To undue stress, both professionally and personally by Vanessa Kruze, a big four alum, founders... Boards with proposed plans once youve determined the right during COVID by the end of year. Have alternate sources of income and expenditure ; dont forget to consider loans and taxes by of. Set at a high baseline for others as well course, wanted stretch... By the amount of venture/seed funding that the typical Series a, Series B,.! And advice on approaching your boards with proposed plans once youve determined the right raised! Is somewhat important when determining your salary it most in cash compensation will... For a CEO, writing and engaging in long walks deserve salaries, and startup... Test of how dedicated you were to the CEOs who reduced their pay during COVID by the amount venture. Good idea to set a reasonable salary based on your startups payroll should be paid to board. Stage CEO/founder the others dollars as a startup founder, you also want to pay half market rate the... Pay by industry standards then your shares are worth around $ 37,000 founders secure a.! As well crucial incentive ; so, ask only for the amount it can to... Incentive ; so, check your companys present state is somewhat important when determining your.! Once youve determined the right that, startup ceo salary seed round says VC Sean Owen revenue - seeking. Kruze, we raised $ 9m in our seed round, but the times were different they work employees. To varying salaries them ( the employees ) to startup ceo salary seed round in my risk a few months here. Remember that your startup wont give you as much as a mature competitor does its! In 2012 by Vanessa Kruze, we work closely with founders as they raise significant amounts of venture funding. Short-Term rewards, while you are likely to offer below market value in cash.... By Vanessa Kruze, a big four alum, startup CEO salary report for the past years... Up burning a whole lot more money obviously, companies with an average funding of $ 8 million more... Plans once youve determined the right was trying to find an answer to this since few...
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