Hi folks from Argo AI, can anyone help explain how you guys' equity work? The total value looks far more than other competitors. But it seems not normal RSU like other companies.
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- the number the recruiter gives you is based on a 20B valuation. This does not take into account any dilution that may happen as we raise money, and we could be worth more or less than that when we have a liquidity event. You can almost be guaranteed that there will be at least some dilution in order for Argo to raise money (I would guess anywhere from 5-20%? Just a guess). Just for another reference, the VW deal valued Argo around 7B, this was announced summer 2019 and the deal closed summer 2020
- as long as you don’t sell within 1 year of your grant (which you probably won’t be able to anyways) then any money you get is treated as long term capital gains. This is a very nice thing compared to other companies and start ups equity, but is also the reason why it’s so damn complicated and seems like no one knows how our equity works
- your profit interests (equity) will have a threshold value. This may seem like a “strike price” but here’s what it really is. If the value of Argo (per share) is less than that threshold value, then your equity is worth $0, if/once Argo is valued more than your threshold value then your profit interest will convert to a unit share and be worth $ (proportional to overall company value).
Hope this helps! But by all means ask to speak to someone other than the recruiter for more info. I think a lot of Argo employees don’t actually know how their equity works
And yea I guess anyone from finance or even legal might be good to talk to (if you can)
Normally recruiters explain these things fairly well
Also, does Argo do refreshers?