Duna Foundation
Ethical by design
For years, technology companies have spoken in missions and values. Big words, bold promises. Yet when things get tough, principles often fade and only short‑term financial interests remain. We believe there is a better way to build a company; one where ethics are not an afterthought, but embedded into the foundations of the business itself.
That belief is why Duna is ethical by design.
A foundation built into our ownership
From day one, we chose a different governance model. At incorporation, we allocated one third (33.33%) of our shares to the Duna Foundation, a non‑profit entity created alongside the company. The Foundation is not a symbolic gesture; it is one of Duna’s largest shareholders and a permanent co‑founder of the business. Please see details below in our section on Transparency & Governance.
By embedding a non‑profit into our ownership structure, we ensure that Duna’s long‑term direction cannot be driven by financial returns alone. Instead, success is measured by the value we create for all stakeholders: our customers, our colleagues, our shareholders, and the world around us.
Serving the public good
The purpose of the Duna Foundation is to serve the general interest. Its mission includes–but is not limited to–supporting initiatives related to climate and environmental impact, financial equality and inclusion, and social and community development.
The priorities, focus areas, and long‑term goals of the Foundation are shaped together (“bottom-up”) with the people who build Duna every day. We collectively bring this to fruition.
Growing impact over time
We are realistic about impact. Not all problems can be solved overnight, and not all challenges can be addressed with capitalism alone. We believe the Foundation must earn the right—and the resources—to do meaningful work.
As Duna grows, so does the Foundation’s ability to make a meaningful contribution. Over time, the Foundation will be capitalised through its ownership in Duna and, as the company matures, through a share of the value we create.
Intertwined with the business we build
The Duna Foundation is part of our DNA and hard‑coded into the governance of our company. By intertwining our contribution to society with the business we build, we commit to a long‑term vision where growth and responsibility go hand in hand.
The shares held by the Duna Foundation are similar to the common stock shares held by our two founders. Each of them got 33.33% at incorporation. In other words: our co-founders both gave away 33% of their own equity upside in the company.
As with other venture-backed businesses, this ownership percentage has decreased and will be decreasing. How? After incorporation, new shares have been issued both for investment rounds and for employees (we have a large employee equity pool). As such, the ownership percentage of the Foundation is currently materially lower than 33.33%.
By treating the Foundation shares similar to founder shares, our governance still resembles the structure of other venture-backed startups. Investors back companies with three co-founders and Duna has three co-founders, one of which happens to be a non-profit Foundation.
The shares of the Foundation are held in a Dutch STAK. The board of this STAK is formed by Duna's two founders. This enables us to split the economic rights (owned by the Foundation) from the voting rights (which the founders can exercise on behalf of the Foundation).
