Just had a recruiter call and all is well, people seem nice, but the numbers they're throwing around are wild. According to the recruiter they would give something like $300k-500k equity per year for senior position. I'm used to start-ups / private companies exaggerating the value of their shares so that's fine. Wondering though what's the current valuation they use for this or the ballpark of the current strike price they offer. I googled and found that their pre-IPO share price on the secondary market wildly varies with some pages saying it's $11-15, another said $45 and finally one said $73. Any Kraken employees here that have further insights on how to evaluate this?
Between 8-11 right now. Hasn’t recovered yet like the others. Probably will soon
Thanks! Will be very helpful for evaluating a potential offer.
Did they give any numbers that you can actually use? Generally you'll want to know the number of options, the vesting schedule, total valuation, and total number of shares. Without this info, whatever they tell you means absolutely nothing. Secondary market is around $10 from what I've heard. Rumour has it that is around a $2B valuation but if you have a competent recruiter they should be able to give you the exact details. Honestly you should be conservative and assume the options are worth 0. They are not liquid like RSUs so keep that in mind.
Thanks I’ll keep that in mind! I asked for 409a but the recruiter said I can get that info if they extend an offer. Only thing I know is the vesting schedule which is 4 years and refreshers until 6th year. If the valuation is 2B then I’m assuming they calculate this on some crazy growth trajectory. I’ve read that their valuation used to be 10B and they aimed at IPOing at 20B. That’s helpful info tho and I’ll rather try and push for more base in case they make an offer.
On another note they said base salary is probably going to be around 180k. Any idea if that’s high on their pay band? Checked with levels.fyi but they have very limited data points. Fully remote is very attractive tho.
What does the recruiter claim the value is? It’s most likely bs
Recruiter didn't give any specifics but I know the drill where they will calculate growth trajectories based on imaginary future stock prices. Was just wondering if there are any insights on their internal valulation.
Not sure about now but around the height of the bullrun the value would have been around 250k per year. However, that’s based on the secondary market which is not super liquid