Stock Options % seed funding
Hi sorry for yet another stock option question. I have been asked to join a seed company that will close 2.5MM at end of month. That is in addition to 1MM they already have received. I have been asked to join as ‘Head if engineering’ I’ll be coding about 80% and managing a few people to start with. What percentage of options should I ask for? thanks
Tableau uD67gh Mar 12, 2019
From 1% to 3%
New
hardleet Mar 12, 2019Seed company at least 1%. Don't forget.you will be super diluted
1) Have they closed or are they "going" to? Does that close have anything to do with them bringing a Head of Engg on board? 2) Does the startup have a functioning product with users or customers? 3) Any revenue yet? 4) What's the TC you're giving up for this role? How much $$ are they expecting. 5) How many tech ppl do they have already? Answer these questions and then we can give a better answer.
1. they have closed 1MM+. I do not know how much of the 2.5MM they were trying to raise they have signed. However they have gotten verbals for most of it. 2. revenue not much, but let’s just say there is a lot of interest in it. I know I know that is what they all say. they have a functional product in use. they need to bring it to the next level. 3. TC is exact same, including benefits. 4. consultant made POC. i’ll be first in house tech. I can have a second join in a few weeks. i know him. 5. i’ll be hiring 2 right away. have a budget for an additional 3 with a runway of 1 year