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Rising Star
A lot of people accept the one they have and then if another better one comes along, accept that. You will prob not be able to go to company 1 again but it’s worth it.
Pro
As them for an extension. In this market they likely extend vs for sure loosing a candidate they’d like to have.
It’s called “orangutaning”, swinging from one branch to another. Don’t let go of one until you have another, better one, in hand!
Are you in a spot you could ask for more time?
This happened to me, I ended up accepting offer 1 and cancelling interviews.
Also depends on if you really prefer one team/org over the other.
Which industry are the offers in?
First, reach out to the other companies that haven’t given you an offer yet. Tell them you have an offer and that you have to make a decision by X date. If they want you, they will accelerate their process and try to get you something in hand ASAP.
Ideally you did the above right after you got the offer, so you then ask the offering company for an extension. Find some kind of excuse of why you need more time that isn’t tied to the other companies — e.g. my SO needs to talk to his/her boss to see if s/he can also make the move, my SO is traveling and we need to have this conversation in person, etc. Again, if this company really wants you, they’ll be willing to wait.
Third, decide which company you actually want to work at. By this point, you probably know which is your top choice. If it’s the company that already gave you an offer, than just take it. If it’s one of the other companies ask to accelerate and extend. There’s no need to get multiple offers if you already got the offer you want.