Flexport IPO real?

VMware
lowballe

Go to company page VMware

lowballe
Oct 16, 2021 65 Comments

I have got an offer from flexport and I should take cut on my base to join flexport ~ 20k

I have been hearing various information about IPO is IPO real?

And also Pre ipo RSU’d have double trigger policy and expiration dates on their RSU’s so if they don’t go ipo for 7 years or so my RSU are worthless. Does Flexport pay less by luring IPO dream?

Please shower thoughts Flexporters?

Current TC - 230k
Flexport offer - 160 + 16 + 30000 units

Secondary market share price is 21 per unit.

Thank you

#equity #startup

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TOP 65 Comments
  • I could argue same on Instacart unit economics in its current state. Infact, I find instacart business model much for fragile than Flexport.Truth is all tech scale up unit economics is based on product vision being realized in long run
    Oct 16, 2021 4
    • Instacart doesnt know anything and wants non public numbers. Ff is always manual, you iron out software to simplify the process and make it transactionally smooth.
      Everything within looks good even with so many gigantic things in the pipeline happening for the next year
      Oct 16, 2021
    • Flexport
      Ship&Truck

      Go to company page Flexport

      Ship&Truck
      Hasn't instacart approached Uber/DoorDash multiple time for a "partnership" ( *cough* - buy us out we are drowning since our business model sucks) and get rejected every time? Even with changing leadership? Come on don't out Flexport and Instacart in the same leagues.
      Oct 16, 2021
  • Is Flexport even close to being profitable? I recall their unit economics and long-term vision being a bunch of bullshit
    Oct 16, 2021 1
  • Google
    goddoge

    Go to company page Google

    goddoge
    What is double trigger?
    Oct 17, 2021 10
    • Ship&Truck, I’m not sure if I understand you correctly, does Flexport stock considered vested as soon as you receive them? If so how did you pay your taxes when this happens?
      Oct 31, 2021
    • Flexport
      Ship&Truck

      Go to company page Flexport

      Ship&Truck
      Double trigger is there to prevent you from being taxed before IPO.
      So a pre-ipo stock woukd vest in your account in Carta and it stays yours forever. But since the company hasn't IPO'D, you don't pay taxes on that vested rsu since realistically you really cannot do anything with it. Once the company IPOs and 6 months have passed ( double trigger), that stock is now considered fully vested and the rsu price is price of IPO or price of stock at the end of IPO day. Then you pay taxes on all the vested stocks, in that particular fiscal year when the double trigger was completed. And if you leave the company before IPO, the stock stays with you since it was already in your carta account. You will pay taxes on it when your now previous company IPOs.
      Nov 10, 2021
  • No IPO in 2022. I don’t think the market is really going to crash but the company seems clueless about an IPO. All the other executives are just yes men and don’t challenge CEO’s decision. The company is doing incredible well but their Hesitancy to go IPO in a bull market with the shipping crunch tail wind raises doubts. The CEO said he doesn’t won’t go IPO at a crazy valuation. Why the fuck would you not?
    Oct 16, 2021 2
  • Flexport
    Ship&Truck

    Go to company page Flexport

    Ship&Truck
    This is correct that the secondary price is around $20 and the company is doing really well when it comes to numbers. Also, it seems some employees are pissed( I am a little dissappointed as well tbh) that the ipo may not happen when they want it to but I would absolutely be okay waiting of that if it means we quadruple our valuation by IPOing a little late.
    You may be talking a pay cut since the offer has paper money but even if you treat it at 50% of the secondary market, it's still more than the current Tc so looks good.
    Oct 16, 2021 5