Base: $225k Sign On: $25k Stock: 25,900 options (current priced at $15) Current TC 380K YoE: 15 Company has a lot of potential but compensation for now is a lot less than what I have. With current evaluation already at 4B, is it worth considering? Work seems fun. Good experience talking to the interviewers as well. I don't hate current job and there are a lot of opportunities too without leaving. #startup #salary #offer
pick a number you'd go for and send to them. "I'll join if you reach X base and Y options".
We were in a similar boat, I had an offer from them for less base but more options. Was tough to turn them down b/c it does seem like a good place to work, but I wound up getting an offer from a public company with base + RSUs that will add up to 400k, assuming I can get through year one. You could probably get them up to 30k+ options. Who knows with the value of these things, but they do seem likely to IPO for some value.
I had a similar offer from them but turned them down as I was able to get another pre-IPO startup to pay me much more money in RSUs. Keep in mind that options are not equal to RSUs and you have to pay a fee to excise them whenever the company goes public. I think the company culture is great and people are really cool. Not sure about the technical challenges though. If sales is your thing, this is a great company to be.
Also had an offer around series c and the offer was not as good as op getting. just curious what’s source of valuation worth 4B ?
It was said by the recruiter but I couldn't find anything online. I only saw evaluation at 2B in Feb. Asked for option agreement but they didn't have one to share. I am skeptical of the current evaluation as well.
For what role or title & on what team?
OP, do you know what level this was for (also if you're willing to share, did you take it / counter)?
Based on private equity market , they are valued at 2.2 billion , their valuation was just in Feb 2021, so I doubt their valuation got doubled in just 8 months and 4 billion valuation may not be legit, and also during their last round of funding their stock is valued at 6.14$ you can find that in private equity trading platforms. But given your current TC this doesn't look lucrative. And also sales domain is overcrowded now , I doubt they can turn 10x from here in next 4-5 years.
Yup. This is a more accurate assessment.
What's the strike price on the option? Is there a market to buy stocks once vested?
OP, did you end up joining?
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What are the options worth? Kind of meaningless to evaluate without that info
Updated- worth about $390k in current evaluation
No. $15 is way higher than the current stock value or the preferred price. At IPO it might be $15 but that is not the real number given to investors (preferred price). It's really about 40% of that. And remember that you have to pay the strike price to even get those shares so that's another 15-20% reduction. And you have to wait four years before you get all of those and one year for the first quarter of them. So you're really looking at about $320k IF the stock price is at $15 in four years and the strike price you get is the same as my last grant. Any future grants will be much smaller and probably with a higher strike price. I think 50% of what the recruiter is telling you is actually reasonable.