Help me evaluate this offer:
Late stage fintech startup
Unicorn since 2021 (might be overvalued)
Looking to IPO in next 2-3 years
300-500 employees
Role reports direct to C-level
Base 220k
No/very low cash bonus
Total equity worth ~1M at current valuation, vests over 4 years
Fully remote

Current YoE: 5, TC~250k, expecting promo soon and TC to jump by about 20%

What questions would you ask/tips to negotiate?

like
Posting as :
works at
You are currently posting as works at

300k base and 2M equity

funnylike

I raise you 500k base and 5M equity

Just ask if you are ok w equity being worth only 20% what they quote, and if that $1M is based on 2021 round. Look at the fintech stocks since 2021, esp ones that have IPO’ed to see how inflated those valuations were: Maqeta, Toast, Robinhood, affirm, Coinbase, lemonade, any many more on pitchbook…

Don’t get hosed, ask for at least 2x that equity based on markets today

like

Yeah but your equity is awarded based on internal valuation. Ask them what that is from most recent 409A. For example, instacart slashed their internal valuation from recent public raise by 40%.

How much cash do they have and how quickly are they burning through it? Do they have enough cash to get to IPO? If not, how do you think they would fare raising money in a recession?

helpful

Ask how fast they’re hiring and how the team is structured that you’re joining. Very fast hiring (e.g doubling / tripling staff) could lead to layoffs if cash gets tighter / as they figure out the org model.

You got $1m.

5 YOE, and a 500k package?

Especially in current markets…

That’s a good ones, what’s your concern?

Just looking for comments from people who have exited into startups in the past

This seems exceptional

I exited recently to a startup - that is a pretty good base offer, especially for fully remote. Highest I’ve heard is maybe like $250k but that was in person in SF. Obviously equity is competitive.

You won’t get much more than this leaving as a PL tbh - well done.

They will after new funding but can do it ad hoc to attract talent (i.e., instacart).

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