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Hi Folks, I need help to in an offer from a stealth-mode startup in SF. This role is for the first PM to be hired(20 something employees). $185K/yr comp. Options: 200K. My current TC (Snr. Product Mgr. with 15+ exp.): $210K/yr + bonus(10% guaranteed), 401Kmatch(6%), ESPP & Options(~$200K worth). Thanks in advance. Cheers 👍
200k options? Out of how many? What is the curent valuation? And what strike are the options? How many rounds of funding?
200K options @ 5cents. First Round or Seed round or Series-A(~ $12mil. raised) Series-B planned in mid-2020. As per Founder/CEO & CFO, they have enough money with current burn-rate till 2020
Do you know what is the current valuation? How many outstanding stocks were already offered...
I haven’t got an answer on current valuation yet. Can’t find anything on CrunchBase too since they still operate in StealthMode
You should ask them what percentage of total outstanding shares they’re offering. The number of options don’t mean anything in itself. If they’re a series A company, you should be able to negotiate around 0.2-0.3% equity.
Current Valuation is ~$70mil. Equity offered >0.2% <0.3%
That seems reasonable. You might be able to push it up a bit if you performed well during interviews and have a lot of relevant options experience.
This sounds awful. Nearly the same comp but fake money instead of things you can spend? I’d laugh at them with that offer.
Not sure if its 200k options vs $200k options.. If the latter then agree with you
Ah, fair point. I may have read too quickly. Let’s see what OP comes back with.