[1] http://techcrunch.com/2010/09/21/marco-arment-instapaper/
[2] http://techcrunch.com/2011/09/26/tumblr-raises-85-million-ro...
However, in this case it appears that Marco wasn't a co-founder, but rather a first employee with an equity grant. If it were for 5%, it is probably worth ~1-2% now, and so I'd reckon he will see $15M. That is a lot of money, but not enough to change the startup landscape.
https://twitter.com/marcoarment/status/335483318311194624
> @ericf @jsnell 1) I was technically an employee, not a founder. 2) My shares were from the first funding round, before any further dilution.
How much shares would a (number 2?) employee typically get? And does it mean his shares were diluted or not?