Hi Sigma folks, I am considering a potential offer from Sigma for L6 please advise if it is worth taking the shot? I believe Sigma will become 10Billion dollar company from 1B (now) Level : L6 Base : 270K Options value in dollars every year : 110K current TC : 580K I am taking a hit of 200k per year, is it worth it? Is there a room for pushing for more options? #sigmacomputing #tech
No. Why take chances when you already have a stable strong tc?
How many options is that per year?
probably about 6k
Sigma is doomed. Their dependence on Snowflake is going to kill them. Also, subpar product and no vision/strategy.
Sigma doesn’t depends solely on Snowflake. Yes there are a lot of deals with Snowflake because we have a close relationship. But we have deals where users are on BigQuery, Databricks etc
Lol, you don't know nothing
The current valuation isn't 1B, unfortunately. Sigma recently had an extension down round https://www.cbinsights.com/company/bitmoon-computing/financials I don't see any hope with Sigma unless the current management, essentially a bunch of boys playing startup, is gone. The only reason it survived so far is the deep pockets and prestige of the founding VC firm, Sutter Hill Ventures, and its successful creation, Snowflake. Clueless investors from NYC bumped up the valuation with Series C, an anomaly induced by the macro environment (hype) in 2022. Still, this year's extension round wiped that out quickly, so came layoffs and "personal time-offs." Sigma has structural problems (both in its tech and culture) that can't be fixed easily.
How do you see that as a down round? It’s the same pps as series C.
A lot of companies that got funded in 2021 are in the same boat. But Sigma is worse as they have managed to burn through that cash with very little revenue to show. Meeting their goals doesn't mean it is good enough.
Read reviews, toxic management is very real.
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What’s their revenue like and growth?