Late! was founded as a company of limited liability (“Empresa Social de Comercialización de Productos Ltda.”) between a group of friends who provided a symbolic amount of $200,000 to form the society. Simultaneously, Fundación Elige Bien was being conformed, a nonprofit entity that would be the final owner of Late! Nowadays, Fundación Elige Bien owns 99.9% of Late! and the other 0.1% belongs to its founder Pedro Traverso, who maintains that symbolic amount only to prevent the dissolution of the limited liability company, since this type of companies require at least 2 partners.
Both the directors of Late! as well as Fundación Elige Bien generously and freely make their contribution to the company, without receiving any kind of compensation from the company. Members of the team (the administrators of Late!) are only partners that receive a market salary for their work.