Have you? Those who joined early or not, did you get a big pay day? What's your story...
I've worked for 4 startups so far, ranging from employee #1 to #50. I've only made a profit from the options on one of them. I got about $25k from selling the options to a private investor that happened to be buying shares from all employees as they left. I got lucky with that one, shortly after I left he stopped buying more. Another company, we were waiting for final approval on a couple different multi-million dollar contracts when crazy startup drama ended up scuttling the company. At the time, you could count the employees on one hand and we likely would've all become millionaires had the company survived another few months. #startuplife
What was the startup drama that you experienced?
Yes, companies were profitable and acquired. What do you want to know? Start ups are more of a learning opportunity than a money maker in general.
Rich? No, but startup I wasn't at long was acquired in 2013, 20% raise to stay, 1 year salary paid out from immediately vested equity, and 2 years salary in RSUs over the next 4 years.
Was this from contract (acceleration clause) or from the acquiring company?
No, startup is high risk.
Unless you are one of the first 3 or 5, the chance you are gonna get shit rich is extremely low. Majority of engineers do not get much and when you consider the opportunity cost, it is even not worth it for many people. Startups are gambles that only the founders and VCs benefit financially. Rest of folks are just tools to achieve that
I’ve done three startups so far and have made nothing.
NO, you won't become rich: I am starting one right now and creating a future plan to hire expert, I ll open the opportunity for key stakeholder (only) to have initial stock ownership when we get the right support from VC, but for the rest of the employee, they will be treated equally with good career opportunities when they excel. YES, you have potential to become rich: If I were to join a startup, I will be very happy to be able to work closely with founders/ key people even if I just got ordinary pay, because I would be able to learn broth of business/ technical that I wouldn't be able to see/ get from big companies anywhere in the world. So in the future I might have better grip on how to start my own startup, and become rich. I have been several different sides, did my own startup > 10 yrs ago, worked for small company, and worked for huge corporation. That is my 2 cents.
Yes but I joined late so not as much as a previous one. Anyway, they're lotto tickets and you need to treat them like it. Maybe a payout but probably not.
Never worked long hours in any of my start ups just to play devils advocate. Many do work folks hard but not all and even when you are working lots it's fun as hell.
AppDynamics is one of those startups which made only executives rich and very few engineers. Most them had avg exit like any other if they worked for big 10 in Bay Area. Work culture is bad and not worth the risk
The then CEO didn’t seem to be that kind of guy. You guys got an exit of twice the value if IPO’d ?
Tunnu then CEO was good. the new CEO and executives milk multi millions. Left work force with zero. Most of the company did not even know huge retention bonuses which were paid in secret to their buddies. All is coming out now only. Engineers are shocked. Most started leaving or buying time to get jobs elsewhere.