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CompensationMay 20, 2019
ComcastPM9

Need help with offer from a stealth-mode startup for PM

Hi Folks, I need help to in an offer from a stealth-mode startup in SF. This role is for the first PM to be hired(20 something employees). $185K/yr comp. Options: 200K. My current TC (Snr. Product Mgr. with 15+ exp.): $210K/yr + bonus(10% guaranteed), 401Kmatch(6%), ESPP & Options(~$200K worth). Thanks in advance. Cheers 👍

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Google DocStrange May 20, 2019

This sounds awful. Nearly the same comp but fake money instead of things you can spend? I’d laugh at them with that offer.

Cadence luna. May 20, 2019

Not sure if its 200k options vs $200k options.. If the latter then agree with you

Google DocStrange May 20, 2019

Ah, fair point. I may have read too quickly. Let’s see what OP comes back with.

Cadence luna. May 20, 2019

200k options? Out of how many? What is the curent valuation? And what strike are the options? How many rounds of funding?

Comcast PM9 OP May 20, 2019

200K options @ 5cents. First Round or Seed round or Series-A(~ $12mil. raised) Series-B planned in mid-2020. As per Founder/CEO & CFO, they have enough money with current burn-rate till 2020

Cadence luna. May 20, 2019

Do you know what is the current valuation? How many outstanding stocks were already offered...

Comcast PM9 OP May 20, 2019

I haven’t got an answer on current valuation yet. Can’t find anything on CrunchBase too since they still operate in StealthMode

Uber lock_up May 20, 2019

You should ask them what percentage of total outstanding shares they’re offering. The number of options don’t mean anything in itself. If they’re a series A company, you should be able to negotiate around 0.2-0.3% equity.

Comcast PM9 OP May 21, 2019

Current Valuation is ~$70mil. Equity offered >0.2% <0.3%

Uber lock_up May 21, 2019

That seems reasonable. You might be able to push it up a bit if you performed well during interviews and have a lot of relevant options experience.