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Base: 275k Sign-on: 25k RSU: 5500 per year (300k at current valuation) Total 15 years of experience with 3 as EM. Is this a good offer? I know valuation has taken a massive hit. Can someone from #reddit help out here? What are the prospects of going IPO soon? I see too much negativity from employees on blind. How is the morale? Currently I am at Cruise. After the shakeup, the new comp is coming out to be around 550k. The problem is stability as we have scaled back all our operations. Not sure how long we can sustain on GM money. I fear another layoff is around the corner in 6 months. TIA. #cruise #reddit #EM #offer #ipo
Don’t count paper money so overall looks like a weak offer.
At what valuation is it 300k
Remote or onsite
Why is sign on so low compared to the other comp? Is this common when RSUs are involved?
Don’t change companies for a similar or lower comp.
Sorry OP, Reddit folks won’t be able to weigh in on valuation or IPO timing as we are in a quiet period pending IPO. It’s literally illegal. I would encourage you to look up numbers we’ve made public (like 20% YOY user growth, etc). Congrats on offer in a difficult market
OP, you can lookup secondary markets like EquityZen where recent transactions are displayed. That is public information. You should press on the recruiter to provide you the current price and you can calculate the profit. Offer wise, decent for EM. Stock is more than few recently joined folks. EM or Sr. EM? Pretty good benefits at Reddit. Stock - can't predict anything other than secondary market pricing right now.
Where are you seeing this info on EquityZen? I see no live deals
OP, what valuation did the recruiter try and sell you on? Is the shares over 3 or 4 years? I would try and look at secondary marketplaces to see what the real valuation is right now, but keep in mind that the secondary market valuation will be lower than true valuation most likely. Also - senior EM or EM? That’s a great offer. For reference as a senior SWE when I joined I received 225k base and 2000 shares per year over 4 years. (8000 total) I make more than that now due to raises, but your offer seems solid. Reddit had a rough early to mid 2023 and morale was low but it’s starting to get better again and the full remote is really tough to beat.
This is for EM role. I couldn't find a definitive offer anywhere on secondary marketplace. If you know one, would be grateful. Thanks for info and kind words.
Ewwww. Reddit? Yuck
I got a staff offer a year ago, 17k shares over 3 years. 35k sign on and 295k base. Rejected it, I met a few Reddit folks and they mentioned revenue is very seasonal (I.e Wall Street bets) and it’s dumpster fire. I don’t trust a company that has been running since 2007 and wants to go ipo just now, use common sense.
Reddit never really made an attempt to be profitable until like 2017, but sure. Company was hectic last year due to layoffs but it’s been pretty good recently!
I’d take their RSU valuation with a grain of salt. Don’t be surprised if 5500 RSUs end up being like 175-200k