Do you think any Reddit employees become millionaires after the IPO?
Depends when you joined and depends on the price Seems like a question rooted out of envy than actually giving a shit
Some envy I suppose, but mostly curiosity. When would one need to have joined to do well?
Can’t answer till I know the price in 5-6 months.
Where's lower than FAANG? If you joined in 2021, with the shares lockup, you're making far less than the projected job offer. And even the initial job offers at the time were significantly below FAANG
Not true in all cases - depends on price in 6 months
Grant was at $60 😞
Most are underwater except those who joined more than 3 years ago
Even for those who joined 3+ years ago, how many of them would have made more money working at FAANG during this duration?
Idk but most faang workers hate their job from what I see. So maybe good compromise
Obviously depends on how early on, but when I was looking, Reddit was low paying compared to FAANG (assuming a fair RSU valuation at the time). My market value and offers were in the $600K and i think reddit was offering like $400K (I honestly don't remember that well). Part of it was that they offered remote, so they weren't necessary low-balling me, but I would not have gotten rich from it. Again, this was recent. 5 years ago would have been a different story I bet.
Reddit pays in the 75th percentile while ISOs were cheap. Then a few people joined at prices in the 22s and some got prices in the 40s. I doubt many more than 10 non execs are taking in a million plus.
I know people in Eng who got it at 5-10. Maybe sales is diff
I got in at 5. At the current price I’m making like 200k before tax but after exercise cost. Was a new grad, so very solid for two years of vests, if the price holds.
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It's hard to say as there is a 6-month lock up before the employees can sell their shares.