got an offer for a senior swe from sofi and another competing offer from paypal? sofi on an average seems better. does sofi have any plans to ipo and do they offer strong stock refreshers? tc 310k
Whats the breakdown of 310K
I enjoy working at SoFi, I'm not in the sf office though. I have great WLB, though product still doesn't have some of their processes figured out and we have growing pains. Afaik we have flexibility on timing of our IPO, could be next year, or 2021. What's your offer like?
What was your strike price ?
No
Iâd also recommend against it.
Run away. Not a well-run company.
I love working at SoFi. The company has come a long way over the past year. Anthony Noto has done a great job turning the company around and getting us ready to eventually IPO. As mentioned above, there are growing pains as we transition to a matrix org, but I think thereâs a lot of potential for us to scale in the coming years.
What kind of crack are you smoking? IPO? The company took a down round of epic proportions and is on the market looking for more money at an even valuation.
No crack 𤣠the extra money gives us more time to improve the profitability of our lending products while concurrently scale our new non-lending products (money & invest). Cagney left SoFi in a terrible place (hence the inflated valuation); Anthony and Michelle have been doing their best to turn the company around and build a full-service online bank.
Yoe?
Is making tons of uncollateralized loans with much lower interest than credit card Debt viable? Does strict underwriting make it possible? I have a bit of worry that itâs a bubble running through investor money until it runs dry. But I really donât know, Iâd like to hear from a sofi person if anyone has an answer.
I am not a finance expert by any means, but we don't service the life of the loans, we package them and sell them. I also don't know any real details, but the narrative has always been that we are profitable, and we have exceeded our revenue and user growth goals each quarter. The real end goal though is to become a full service bank with all of our new products.
Yea thereâd be no way to keep liquidity if you held onto them, but if theyâre value doesnât hold up in capital markets because of default rates then youâre buyers will dry up. But the bank thing is really interesting. I guess the thing I said about investor money doesnât make sense now that you say that though.
Not sure about the workplace itself, but all of these fintech companies seem like decent startups from stability point of view. Also how is Yelp for swe?