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Nope. This is common for a company pre-IPO which has a genuine strategy to IPO. Measure the time scale for this. Does it suit your circumstances ? How will the company be measured and valued - does this tie in with an ambitious revenue opportunity. I've been with 3 startups that either IPO'd or did a private sale - all three netted me millions. All three offered ' competitive ' salaries with commissions but the IPO award was hundred of miles better