Plaid folks - received an offer to join your company. Non-tech role. Total comp of $390k. Loved the people. My biggest concern is the current valuation. Fintech peers have all fallen pretty hard. How confident do you feel about current valuation, prospects & culture. Hows the mood within the company? This is a huge decision for me and would love your perspectives. Moving from a public company where the rsu’s are liquid so the valuation really matters. Feel free to DM. #plaid #fintech
Personally, I've never had a Plaid interaction work. And I've tried on probably 6 separate occasions. Good offer, poor product.
Feel free to DM. I have good things to say though.
Dmed
I joined Plaid in 2021 and I’ve been very happy so far. Great products, culture, and people. I think it’s fair to worry about valuation. But, I wonder about your statement that valuation matters more because your current RSUs are liquid. Plaid’s RSUs are not liquid so in some ways it doesn’t matter what the valuation is. Joining a private company means taking a major cut in your take-home pay for an uncertain payout in an uncertain number of years - in exchange for perhaps a more exciting culture and potential upside. Our valuation is probably down right now. But recessions don’t last forever, and Plaid builds crucial tools for digital finance, which is still like single digits share of all finance, so I see a ton of opportunity to come. Personally, I would guess we go public in 2023 or 2024 for somewhere between $10-15 billion.
Did you join before or after the 13.4B round?
Probably before
Paid is one of the buggiest pieces of crap I’ve ever used
It's a common and fair sentiment and a lot of people are passionate about improving it here. The thing is it's an incredibly hard thing to do because banks are incredibly janky themselves and hardly invest capital or energy towards improving. We have a lot of clever initiatives to push the industry forward and distill as much usable data into our API as possible. In A/B tests we still continually crush the competition so the people complaining that we suck mostly just haven't had the displeasure of working with anything else.
We are certainly not valued at 13.4. A lot of plaid employees are delusional and think company is valued at 20 bn+. You can judge for yourself by looking at the market conditions. But I would consider your equity to be 25% of 13.4 valuation. If you can live with that fact for the next 5 years, join Plaid. No complaints about wlb or people. No refreshers unless you exceed expectations.
Also to help you evaluate better, I would recommend getting all numbers from your recruiter. Ask to sign an additional NDA if they are not providing this data. The data will help you understand why I say 25% of 13.4 b
What documents do you recommend asking the recruiters? Is it 409a or something else?
Revenue numbers quarter over quarter. Expenses. Burn rate. Cash in bank. Profitability. Etc.
The few folks above have commented on many Plaid threads talking poorly about the company. However my DM’s are full of people who are positive, speak really great work life balance, projects etc. I recently accepted an offer. Here was my rational -- -The 13.4 billion valuation is way too high, but at the time of IPO in a few years, that might be very favorable. - People inside the company seem very bullish. - Stripes offering with banking apis is actually pretty different, and caters to a more niche set of consumers. They are wrapping other vendors products while Plaids are all built in house and still own that piece of the market - No one else really does what Plaid does at a global scale
Congrats. Please update this post in the next 6 months
Are you leaving Ty?
Hey guys, I also have an offer from Plaid. I thought this company is a sure shot ipo in the next 2-3 years and by that time the company should be worth around 5B ?? But I am concerned from all the negativity and hate towards the company. Can someone from plaid add their perspective?
There’s a lot of threads from the last few weeks, See if you can find them in the sea of referral threads. Don’t let the vocal minority sway you
Yeah it seems that the vocal minority spend a lot of their time and energy in here trying to dissuade people from join. Those of us who are bullish don’t have the time or energy to defend against these 3 or 4 grumpy basement dwellers.
I am evaluating joining plaid! Would love to know your inputs. Can I dm?
Tech Industry
Yesterday
5290
BREAKING: Internal sources confirm another round of layoffs just hit emails at Tesla. For real.
India
6h
646
Rahul Gandhi is poison but the people who believe in him are a lot worse
India
Yesterday
462
Do you believe that India is slowly moving towards Dictatorship?
Fitness
Yesterday
1112
Does cardio help for weight loss ?
Ask Blinders
12h
511
Why no one cares about the lives lost in Gaza, Israel and busy in their own lives?
Plaid seems safe. Worst case they just get bought out by a big bank or finance company.
Worst case is your options or rsus become worthless