I am getting close to the last round with Reddit (final HM call). I am not sure if it’s a good time to join reddit search team as a swe? I have seen their valuation cut significantly over time by fidelity. Any insiders can share any tips about the actual company performance?
They don’t seem to have a good culture, and PMs are generally unhappy.
How’s life working at Bytedance?
Reddit has a Search team?
Is valuation the only thing you care about? It's a massive lottery when it comes to management. I don't know anybody from *search* management so I can't say anything solid about them. In general, some teams have really good managers, some have just quickly promoted random engineers who are just out of place. Leadership is a massive question mark for a lot of people as well. I guess you need to make a judgement call on that one.
So that sounds like a double whammy with lower valuation and poor management! Money is an important thing tbh given how high inflation and cost of living in the Bay Area is. If the PMs on search are bad that will be another nightmare.
As I said, I don't know anybody from the search team, so I give them the benefit of the doubt. Did you have the chance to speak with a potential future manager?
I’ve loved my experience. The stock is unknown but base is pretty good.
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Cleared Amazon onsite, but lowballed.
Terrible time to join Reddit. Their stock is worth half their last fundraising round and they’ve been putting off IPO for years because they know it’ll open even lower. They only grant 3 year equity so your upside is capped, and they grant it at a price that makes no sense. Ask them what the value per share is for the offer (they offer you shares but will quote some big $ number, so you can convert and figure it out). Then ask what the 409a value of the shares is (what an independent auditor thinks the shares are worth). They won’t tell you the 409a because it’s so much lower than their own valuation (likely low $20s). That should tell you everything you need to know. Outside the massive red flag that is their stock problem, great place to work with pretty solid cash comp.
Amazing analysis (I was a SWE at reddit)
Sounds like not a good time to join. It will be hard for them to monetize even if the economy returns to normal.