Coupang

Optum / IT sosoanon
Nov 2 11 Comments

I'm interviewing for a L8 in Seoul. First time at a start up as I come from a well established fortune 50. How do you evaluate pre IPO options as part of TC? Just on strike price? The move also seems terrible since I don't speak Korean, how do you factor that into TC?

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TOP 11 Comments
  • Google / Design kotsooyum
    Bad move indeed. Korea has the highest suicidal rate in the world, because they do not respect employee’s work life balance. They think working off hours & over time is a common sense, even for the employees based in mtv
    Nov 2 1
    • Dropbox 📚 face
      Well the US team actually has much better WLB but the expectation is you’ll be working more in line with the Korea teams working hours.
      Nov 2
  • Dropbox 📚 face
    I would highly recommend against working at Coupang. It’s toxic there. If you work in Seoul you’ll be working their crazy 10-12hr Korean hour days.

    L8 IC? L8 is equivalent to Distinguished Engineer or Sr. Director.

    Their Pre IPO strike price is around $2. They are valued at $9 billion and expected to be valued between $20 billion to $30 billion when they IPO (maybe a couple years).

    They won’t share this info but they have around 1 billion outstanding shares, so that means their options will be worth anywhere between $15 and $30 a share (remember to subtract strike price too).
    Nov 2 5
    • Optum / IT sosoanon
      OP
      L8 manager. I am calculating their shares to be worth ~10 each. There is supposed to be a law in Seoul that limits work to 52 hrs a week, but I don't expect that is followed.
      Nov 2
    • Dropbox 📚 face
      The 52 hour law is followed in Seoul. Coupang is one of the better WLB companies. But don’t expect the same benefits as US (free lunch, and snack). They do heavily subsidize food there on 8th floor, in addition to drinks and the cafe.
      Nov 2
    • Optum / IT sosoanon
      OP
      How is the culture. I get the feeling the expats have a very different experience than the locals
      Nov 2
    • Dropbox 📚 face
      The ExPats work just as much as the locals but have a significantly higher salary, in addition to having housing paid for (there’s a monthly stipend limit). If you have children Coupang will also send them to whatever school you want.

      In general ExPats have it better than the local population, but they are expected to work just as hard and provide more impact.

      L8 manager (Sr. Director) will have a lot of responsibilities and work to be done.

      What sort of offer did you receive?
      Nov 2
    • Optum / IT sosoanon
      OP
      They want me present my requirements which is odd. They mentioned the insurance, housing, and schooling. I have a high level of wlb right now so I'm really debating if it's worth it.
      Nov 2
  • Coupang koj
    Don't trust on the ex-pat package. Finance can rescind the package and send to your home country with a very short notice.
    Nov 11 0
  • Coupang ghett
    Don't join and waste your time.They are hiring you for your domain knowledge and to fix structural problems at Coupang.
    After you fix the problems in few months, you are no longer needed and they will fire you. The options are worthless and coupang will not IPO anytime soon.
    Nov 2 0
  • Sam's Club sksjon
    Yoe?
    Nov 2 0

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