IPO millionaires

Uber Mouse Man
Oct 18, 2018 103 Comments

So it seems that less than half the employees become millionaires in terms of vested and unvested stock when a company IPOs (source - another poll happening in the Uber lounge). I'm starting a poll for everyone to see what their experience has been.

The requests are simple:-
- 🍿 if you haven't been through an IPO
- count each of your IPO experiences separately and only vote per the event that got you the max value
- count the vested as well as unvested stock / stock-options you had on the day of IPO
- approximate per your discretion
- do not deduct taxes
- do not add cash to the total

2012 VOTES SELECT ONLY ONE ANSWER
VOTE VIEW RESULT

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TOP 103 Comments
  • Facebook Bladyblahb
    There are other kinds of lucrative exits besides IPOs...
    Oct 18, 2018 14
    • Daimler ForkBomb
      I know actually a girl that goes by this very same name haha
      Oct 20, 2018
    • Facebook FbECS
      Jin yang became a crazy rich asian.
      Oct 20, 2018
    • Uber / Eng
      @w@

      Uber Eng

      PRE
      Capital One
      @w@more
      1manArmy get the FUCK out of tech if you don't know who Jin Yang is
      Oct 21, 2018
    • New kgb11
      Like whatsapp sold to facebook for $20 fcking billions. Given their small size, each employee would make more compared to most employees at IPO companies.
      Oct 26, 2018
    • Salesforce / Mgmt congrats
      Other ways I’ve made money: an acquisition, the cryptocurrency crazy of 2017
      Oct 31, 2018
  • Uber randomint
    I remember reading on my rsu contract that it’s only valid for 5 years. If Uber don’t ipo in 5 years the rsu is expired. So there’s some limits to how much rsu you get for staying long. But anyways a million dollars in Bay Area is really nothing. I have 1.2m nw now and I still feel poor after all the mortgage payments and taxes.
    Oct 18, 2018 9
    • eBay / Eng
      mDBW53

      eBay Eng

      PRE
      NVIDIA
      mDBW53more
      When you consider your net worth are you taking into account your equity?
      Oct 19, 2018
    • Rakuten qweruiop
      Some of you guys have lost your connection with reality.
      Oct 19, 2018
    • Lyft EqBQ51
      I'm kind of in the same boat. Nw 1.4m but feel shit poor with kids.
      Oct 19, 2018
    • Google Retireded
      Leave Bay Area and rediscover reality.
      Oct 21, 2018
    • Accenture pJwc45
      Man, how old r u
      Oct 23, 2018
  • Amazon Dr. Savage
    There needs to be something that accounts for years worked though.

    1 Mil stock for 20 years of work isn’t as good as 1 Mil stock for 1 year of work.
    Oct 18, 2018 0
  • GitHub potashy
    Made enough to rent a nice one bedroom in SF for a year with get this...a parking space.
    Oct 19, 2018 1
    • New DuQvV7x
      No! That’s major FU money, brah
      Oct 19, 2018
  • Airbnb Ofubdnwjje
    Doesn’t it make sense to calculate on the day the lockup ends.
    Oct 18, 2018 3
    • Uber Mouse Man
      OP
      Some. But you don't have to sell on that day. Or ever.
      Oct 18, 2018
    • Airbnb Ofubdnwjje
      Congrats on the valuation btw! Must be a great feeling! :)
      Oct 18, 2018
    • Uber Mouse Man
      OP
      🤞🤞👨‍💻👨‍🔧
      Oct 18, 2018
  • Tesla / Other qfczDfc
    Curious if I join Uber pre-IPO do they give good options or not?
    Oct 19, 2018 7
    • Facebook / Eng
      dx

      Facebook Eng

      PRE
      Amazon
      dxmore
      I got better equity than comparable public company, but I did get top of range offer
      Oct 20, 2018
    • Uber / Eng
      sight

      Uber Eng

      PRE
      Facebook, Cisco
      sightmore
      The risk factors of Uber, including illiquidity, are diminishing by the day. Assuming we go public within the next 12 months (possible), then a new hire grant with a 1 year vesting cliff will be liquid roughly around the same time as many public companies...

      Still, our valuation as determined by the public is unproven. So it’s actually impossible to say whether or not out offers are above market or below. That will only be known once the public has weighed in.
      Oct 20, 2018
    • Nextdoor hLoz28
      How well is Uber prepared for a market downturn, would you say? Sure the stock value may not matter if you IPO before the market downturn, but how much would the company hurt (or not hurt) from a recession?
      Oct 24, 2018
    • Facebook / Eng
      lmfao🙃

      Facebook Eng

      PRE
      Google
      lmfao🙃more
      good question, also curious
      Oct 24, 2018
    • Uber / Eng
      sight

      Uber Eng

      PRE
      Facebook, Cisco
      sightmore
      Impossible to know since we’ve never been through a downtown. My theory is that we are very well positioned because:

      1. We have ~10B in cash from private investors. Our cash burn is largely the result of rapid expansion and R&D which we can control.

      2. In any recession people are laid off from their jobs. They can immediately earn an income by signing up to drive, and they can set their own schedule. This means that they can still interview for more skilled positions or take time in the middle of the day to learn a new skill if needed...but they don’t have to worry about meeting their mortgage payments. In short, a recession could actually help us on the supply side.

      3. People will stop buying cars. The auto dealers needed a bailout in ‘08 because demand evaporated. In a recession people don’t want to commit to long-term payments are are afraid to put up big sums of money on a down payment. They are more likely to use Uber or transactional methods. They’re more likely to use services like UberPool. This will help our demand side.
      Oct 25, 2018
  • Uber ozGK81
    I'm surprised no one is talking about income tax. 1mln in rsu doesn't mean you'll have 1mln when a company ipos. Generally, you lop off 35-40% to pay income taxes. So you really need closer to 2mln to have a 1 mln after ipo.
    Oct 19, 2018 6
    • Visa 美国人
      lol I saw that comment Goldman
      Oct 19, 2018
    • Goldman Sachs Beav
      Roughly 1.55-1.67mm actually based on your tax % estimate.
      Oct 19, 2018
    • Goldman Sachs Beav
      Haha it's those 12 hour days, you can't think after a week. @Visa
      Oct 19, 2018
    • Visa 美国人
      Yeah I believe it
      Oct 20, 2018
    • MuleSoft mav1014962
      We IPO last year and got acquired this year , if you exercised options each year they vested pre-ipo and they were exercised over a year back taxes are 22% net in CA and additional AMT may bring it to 35%.

      Did well IPO made 2.8 mil and acquisition made 1.6 mil and retainer for another year and half vesting like 145k a month so not a bad experience
      Oct 27, 2018
  • Indeed / Eng squee
    How much would Sr engineers who joined in 2015 make after Uber ipo. How many units would you get if you join as sr engr now
    Oct 19, 2018 7
    • Uber REyu10
      Ugh i thought lyft is mostly for uber-rejects. You must be the exception damn son!
      Oct 20, 2018
    • Lyft / Eng Damn Son
      Can’t share the exact share price but I believe it was based on a valuation at 68B (probably).
      Oct 20, 2018
    • Lyft / Eng Damn Son
      @REyu10 I had offers from both but accepted with Lyft because Uber was unwilling to negotiate and gave me 48 hours to accept. 120B valuation makes me wonder though...
      Oct 20, 2018
    • Deutsche Bank HTC
      What was your Lyft offer and valuation at that time ? If Lyft lists at ~30-40B you might be more well off
      Oct 20, 2018
    • Lyft / Eng Damn Son
      Lyft’s offer was pretty similar minus the bonus structure. 190K base, 750K RSU at 15B valuation, and 30K signing. I believe this is dead center of the comp range for Senior Eng at Lyft.
      Oct 20, 2018
  • Facebook EvhB65
    Fb IPO’d at 45$ but by the time we could sell it was worth 30$, so 🤷‍♂️
    Oct 19, 2018 0
  • Capital One
    kb5wwl

    Capital One

    PRE
    projekt202
    kb5wwlmore
    Not an IPO, but I've had options at 3 startups that were bought by private firms.
    1. 3 months, last hire, hundreds of dollars
    2. ~18 months, a few thousand dollars
    3. ~8 years, first hire, $100k+

    I was an IC at all three. I used the third to pay off my mortgage.
    Oct 19, 2018 4
    • New / Mgmt mmrr
      IC?
      Oct 19, 2018
    • Google UJBa23
      Individual Contributor
      Oct 19, 2018
    • Booking.com B.kidding
      In what industry? 100k for 8 years is peanuts.
      Oct 20, 2018
    • Google / Project
      toothfairy

      Google Project

      PRE
      500 Startups
      toothfairymore
      And where do you live that your mortgage balance is a $100k? Idaho?
      Oct 20, 2018
  • Square / Eng nom🍔
    I've personally seen people exit with $1.5m (cofounder) down to $1,000 (junior position). It's close to impossible to know future valuations.
    Oct 18, 2018 0
  • Wouldn’t al senior engs at Uber become a millionaires if it ipos at around 90B valuation?
    Oct 18, 2018 4
    • Uber Mouse Man
      OP
      You'd think so. But I can't imagine why that hasn't borne out in the polls.
      Oct 18, 2018
    • What poll? You need to see how many senior eng on Blind and at Uber. 50% is a lot, there are also non eng people here too.
      Oct 18, 2018
    • Uber (Admin)
      At that valuation, I don't think I'd be one. Maybe at 120B. It depends heavily on when you joined.
      Oct 19, 2018
    • Uber / Eng
      @w@

      Uber Eng

      PRE
      Capital One
      @w@more
      I think I'd make closer to half a million
      Oct 21, 2018
  • Twitch DingleBell
    Lmao. Been through two IPOs and made < $500 on each. That's not a typo.

    The expectation value of a startup IPO is very, very, very low. Only a few get lucky.
    Oct 19, 2018 0
  • Box PqRK64
    I have made way more on RSUs and ESPP than I ever did on the pre IPO shares. The wealth is post IPO rather than shares Pre. At least for me , here.
    Oct 19, 2018 0
  • eBay / Eng
    mDBW53

    eBay Eng

    PRE
    NVIDIA
    mDBW53more
    Someone I work with had a company IPO after he left to join eBay. But when he calculated what he would have gotten it ended up being something like 80k.
    Oct 19, 2018 0
  • Tesla YepM83
    I love how I have the 🍿 options. Pun intended
    Oct 19, 2018 3
  • SpaceX / Eng SlaveX
    Once Elon dies in a Tesla crash our IPO will make us millions.
    Oct 19, 2018 1
    • Tesla YepM83
      Lmaoooo.
      Oct 20, 2018
  • Atlassian / Eng
    Luffy, M.D

    Atlassian Eng

    PRE
    Facebook
    BIO
    A prematurely grumpy somewhat old man
    Luffy, M.Dmore
    I've been through two IPOs. One netted me in the mid 5 figures, less than a year's salary even back during the dot com boom. The second may have grossed slightly over 500k given holding onto shares and selling over a few years but the value on the IPO day was less than half of that and my after tax net was around 300k (including a lot of that and ltcg rates so I probably didn't break 500k grossl
    Oct 19, 2018 2
    • Amazon Dr. Savage
      Would you have made more money at say a big tech firm with 400-600K RSU over four years?
      Oct 19, 2018
    • Atlassian / Eng
      Luffy, M.D

      Atlassian Eng

      PRE
      Facebook
      BIO
      A prematurely grumpy somewhat old man
      Luffy, M.Dmore
      Yes, although both were long enough ago that the big tech companies weren't paying that much yet. Although shares from FB or Goog from that time would be worth a lot not if I hadn't dumped them.
      Oct 19, 2018
  • Microsoft / Eng dezzi
    Not an IPO, but 12K after an acquisition. Pathetic
    Oct 20, 2018 0
  • Sage / Sales
    khCi60

    Sage Sales

    BIO
    East coast
    khCi60more
    Uh in California your taxes would be close to 50%. That would trigger the top state tax rate of 13.3% (>$1m) plus 37% federal tax rate
    Oct 19, 2018 0

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