How do I evaluate this offer from a Series D startup? got an offer that looks like this:
- Base: $150k-160k
- Equity: 20k-15k options

It’s my first startup offer so I find this a bit confusing/unusual. They said the combo depends on the base I choose. The ratio isn’t really one to one, so how do I know which combination in the range to choose?

Also, can I still negotiate when they already set the range? Like more options for $160k base vs what they capped at 15k?

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I’d personally take $150 and negotiate for 30k options if you think the company is destined to be acquired or go public in the near future and the options have potential 10x value.

If not, take $160 and put $500/month into crypto

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Not related to your question but how’d you find the job / startup?

helpful

Recruiter reached out on linkedin

If you have any friends working in Growth Equity or VC try to find out what their revenues are. My offer from a late series startup valued its equity at 70x ARR and thought their valuation could triple in the next few years

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There isn’t like a secret database for VC/GEs but they might know if they’ve done DDs or gossiped about it. If the startups less than 12 months old, I don’t think looking at financials make sense and it’s more a leap of faith but to AD1’s point, idk how you can do series D in under a year

You need to know the full float of outstanding shares and the latest company valuation post their Series D. My guess is that there are millions of outstanding shares, so your 20K options are probably not worth a whole lot. Also, what is the strike price of your options? Remember that your upside is just the delta between that price and whatever you end up selling it at (if ever). By the way, just base? No bonus/upside?

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They called an hour ago and said they got approved for 10k bonus

YoE?
Current TC?
Role You were offered?

Logistics manager, 5 yoe. Role is strategic operations in the similar space but tech company.

likeuplifting

Strike price, vesting period, automatic vesting upon sale or IPO?

I’d take the higher base, I’d also ask about a signing bonus

How much signing?

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