I'm interviewing for a L8 in Seoul. First time at a start up as I come from a well established fortune 50. How do you evaluate pre IPO options as part of TC? Just on strike price? The move also seems terrible since I don't speak Korean, how do you factor that into TC?
I would highly recommend against working at Coupang. It’s toxic there. If you work in Seoul you’ll be working their crazy 10-12hr Korean hour days. L8 IC? L8 is equivalent to Distinguished Engineer or Sr. Director. Their Pre IPO strike price is around $2. They are valued at $9 billion and expected to be valued between $20 billion to $30 billion when they IPO (maybe a couple years). They won’t share this info but they have around 1 billion outstanding shares, so that means their options will be worth anywhere between $15 and $30 a share (remember to subtract strike price too).
L8 manager. I am calculating their shares to be worth ~10 each. There is supposed to be a law in Seoul that limits work to 52 hrs a week, but I don't expect that is followed.
The 52 hour law is followed in Seoul. Coupang is one of the better WLB companies. But don’t expect the same benefits as US (free lunch, and snack). They do heavily subsidize food there on 8th floor, in addition to drinks and the cafe.
Bad move indeed. Korea has the highest suicidal rate in the world, because they do not respect employee’s work life balance. They think working off hours & over time is a common sense, even for the employees based in mtv
Well the US team actually has much better WLB but the expectation is you’ll be working more in line with the Korea teams working hours.
Don't join and waste your time.They are hiring you for your domain knowledge and to fix structural problems at Coupang. After you fix the problems in few months, you are no longer needed and they will fire you. The options are worthless and coupang will not IPO anytime soon.
I beg to differ. The company has made a lot of key hires. You are right in that options are worthless until the company goes public to which the board is directing the company to.
Do you mean that person was laidoff? If sent back to home country and have a job and pay isnt tht alright unless u really really wanted to live in Seoul.
Yoe?