Chime?

Meta
1811vfb

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1811vfb
Jan 7 31 Comments

If you go to work at Chime or a similarly positioned company that is already receiving large valuations and on the precipice of IPO (or like WeWork a year ago) and then they IPO do you get rich? Or do you have to get on with a company earlier on? I don’t really get how pre-IPO works and wonder if it’s like other things in life where if you don’t know until everyone knows then you know too late.

TC $328,000

M2, 11 YOE, non-tech

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TOP 31 Comments
  • HPE / Product
    FancyTruck

    Go to company page HPE Product

    FancyTruck
    So it took 4 comments just to know about OPs role, yoe and TC.
    Jan 7 0
  • I think it’s too late. There was hype in 2021 that pre ipo will easily go up to 2x~3x like Snowflake but most of 2021 IPOs are below the opening price.
    The upside is limited in the current market. In the current market, I guess 2x at most in the next few years. It may go down to 1/2 like Robinhood in the short run too. I think the range is 1/2 x ~ 2x in the short run.
    If you wanna get rich, I think finding promising series B/C company is important.
    Jan 7 2
    • Meta
      1811vfb

      Go to company page Meta

      1811vfb
      OP
      Thanks to be honest your post seems like it is super helpful but it is going over my head. So when you say 2x-3x you are saying that your RSUs become valued at 2x-3x their value pre IPO? Like I received $270,000 RSUs when I was hired (again, non tech). So if this was at Chime for example, those RSUs would be worthless or “funny money” pre-IPO but the hope would be after the IPO they are worth $500,000-$750,000?
      Jan 7
    • Yes. Also, there can be some dilution on IPO though. Typically 5%~10% dilution on IPO but that’s the basic idea.
      For highly valued pre IPOs, I would multiply 0.7(arbitrary multiplier) to the paper money because anything can happen before the IPO(Wework, Better, IPO on the horizon almost forever etc.)
      Jan 7
  • Wish
    pcatwish

    Go to company page Wish

    pcatwish
    I work at Wish, this is my story...
    Jan 11 4
  • Amazon
    cofi

    Go to company page Amazon

    cofi
    IC or manager?
    Jan 7 3
  • This comment was deleted by original commenter.

    • Chime
      chime!

      Go to company page Chime

      chime!
      At end of the day your judgement depends on luck also.
      Facebook or Google post IPO performance and reputation is no where comparable to Uber performance.
      Do whatever decision you take at the end it depends on how th company executes in post IPO period to maintain the same standard.
      There were mass migrations from Microsoft to google to Facebook to Uber what we remember but there are many in between which flopped( or didn't grow as expected) even after having Rockstar engineers. Because at the end it depends on founders vision how they want to carry their company in long term.
      Ex - Facebook was written off many times in past due to it's known issues but mark has grown the company irrespective of those critics. May be Uber case would have been different if Travis was still the CEO because founder driven companies in general do much better than other's.
      So you can take the gamble and if it hits then you get rich but there are chances that gamble won't work even when all check boxes are ticked
      Jan 11