Comment by bherms
3 hours ago
I feel bad for anyone who joined post 2021... They raised at like $39b that year, then another qtr billion later that year at an undisclosed valuation. This is effectively a "down round" here and everyone who got shares at a $40b+ valuation is getting screwed. I interviewed with them many years ago and ultimately decided against it - their dilution was insane, looked to keep going, and the valuations were absurd at the time already given how few people were actually using it... I think they had maybe a $4b value at the time though. Honestly I think COVID was a huge boon to the company and finally gave them some much needed revenue/membership growth.
their comp structure is like all other companies, yearly grants with some band of pay with performance mixed in. some stacking, idk the specifics but recruiters will explain it.
it's bad if you're an investor I guess.
Take a salary boost and RSU in cash denominations that show evidence of re-evaluation on funding raises, (vs options at preferred price). Otherwise, yeah, it seems like dilution just hurts.