COMPANY INFO: Latest funding round: Series B Valuation: $160M Funding till date: $50M Location: San Francisco Other info: Co-founders very confident about raising Series C later this year at >$1B valuation. OFFER INFO: Position: Sr. Engineering Manager Base: $220k Equity: 0.06% ($96k total for 4yrs at current valuation) I feel like the equity should be closer to 0.3-0.4% for me to break even (when compared to a TC of $450k at a public company for 4yrs) if the startup exits at $1B. Is the equity too low?
I’d ask for $450
$450K
Are you L6 SDM at Amazon ? Tc/yoe ?
0.06%? What a joke
If the money on paper cannot beat what you make now, i don't see the point joining
When was their last round of funding? A 3.2 multiplier on previous funding is actually pretty poor, and unless something has materially changed that profile (i.e., they now have a massively higher growth rate than before) I call bullshit on their ability to raise another $250M in a Series-C.
Their last funding was ~$30M, so it’s a 5x multiplier. They are saying that they already have funding offers at 1B valuation. They are pretty well connected in the YCombinator circle so I have good confidence in their ability to raise series-c at unicorn valuation.
What is a good multiplier? Thinking if joining a startup that raised 13 mil the first round and 35 mil the second.
That percentage seems quite low. You should push for 0.15 to 0.2%. I am VP level at a series B company and I got 0.25% which is still low but my base is quite high
Thanks, that’s very helpful to know! Mind disclosing your base so I can have a better comparison on the TC?
Yikes
0.4% for a series B is out of picture. ~0.15% (+/- 0.05) should be more double.
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0.4% would be about right. But I would definitely prefer 450k TC at a larger company. You need to account for risk...
Fair enough. Do you have any data (from your or your friends’ experiences) on the equity number, i.e. is 0.4% pretty common for Sr. Manager / Director roles?
Software engineers at my startup got 0.4% after series B. Director should be at least 2x that.