Join Instacart?
Posting on behalf of a friend that has a great offer from Instacart but is curious about the internal morale and state of the company after the recent leaked news about their merger/partnership proposals with DoorDash and Uber. Specifically to those who are currently at Instacart - what are your thoughts? Would you join the company today knowing what you know now? YOE: 7 Level: IC6 TC: ~550k + 50k sign-on
@OP, curious if you’re ex-Uber? I’ve seen a ton of ex-Uber people at Chime, starting with the SVP JS who used to be the head of US&C Eats at Uber. If so, how does Chime compare to Uber?
Not Uber sorry, I came from Google.
DD pr won
Elaborate?
DD is good at PR (manipulating news)
Would not have been against the merger. Two huge players in their respective markets coming together would been massive. No way it goes through under the current administration.
Can you break down the IC L6 offer numbers ?
Base 235k. I can check what the bonus % is and update tomorrow.
Wow it looks like the rsu is 1.2m+, which is the top I’ve seen
Not too worried about DD merger news. The RSU clawback is something to be more worried about. Are you comfortable with that in place?
Old timers are elated at DD news and some validation of the valuation, a lot want to simply cash out. New joiners are kinda fucked with the clawback policy. Recruiters peddle a lot of shit about impending IPO dates but truth is they don’t know. Also a lot of good teams are done with hiring so you will mostly find not so great ones during team matching now.
Your friend should read about Instacart’s RSU clawback clause.
Regarding the RSU clawback that folks are talking about, I had an interesting discussion with Ready<GO> about this in the following post: https://us.teamblind.com/s/ano0L61h look for the thread from Ready GO. Please refer to it for full details but gist is: - there are legitimate tax reasons to have this policy (deferring taxes to after the IPO if an IPO is now on the horizon) - S1 filings for DD seem to indicate this may have happened there as well months before IPO. Though it likely was for a briefer period than Instacart (few months while Instacart has been doing this for 8mo) - if they IPO this year, this is not a big deal for new hires (due to 1y cliff) - there is still risk for you if they delay the IPO, but doubt they would delay too much given they already added this clause and would really hurt morale.
Can you share a link to the specific IRS policy you're referring to? My understanding is that you're talking about double-trigger vesting which ensures you're not taxed on the RSUs until both time-vesting requirement and liquidity-vesting requirement are met. But this is separate from a clawback policy. For instance Chime (and many other pre-IPO companies) have a double-trigger clause as well, but you still get to keep your time-vested shares if you leave before liquidity-vesting event.
Google “substantial risk of forfeiture”
Morale is fine. Would join again today but mostly because my TC is high enough to justify the risk. Wouldn’t join if I got the exact same comp somewhere else without the RSU clause.
That’s a great offer! Still very bullish. Mixed views on the DD news but over all morale is generally positive. Ipo hopefully soon.
Has the fact that the merger was allegedly in the works at just 40-50B valuation not caused any doubt or frustration among the employees (given that its previous funding round was at 39B valuation)?
I concur. Good, concise summary. Also bullish.