Program Manager

What does it mean for employees if CRO of a listed company sold major chunk of their shares and is looking to exit?   Should we start looking for new gigs?

What does it mean for employees if CRO of a listed company sold major chunk of their shares and is looking to exit? 

Should we start looking for new gigs?

CRO to exit. What next?

Sales

CRO to exit. What next?- Grapevine

Welcome to Office Gossip's Private Community

Welcome to Indian Startups's Private Community

A lot of people at Unacademy have already resigned, and they are unable to hire replacements from the market( for who knows what reasons). Now as we all know people who are left in the organisation are going to have a tough time. 

Leaves not being approved, longer hours at work, mental harassment in the name of being available 24*7  is becoming a day to day thing. Now they are forcing people to take up sections of business one has never dealt with and are threatening to fire them if they are denying those roles. 

People who left the organisation in 2022 are the luckiest and well a bunch of well informed individuals who saw the end of this company before anyone else could have. 

What a time to be in edtech, indeed

Major Shakeup at Unacademy

Founder

Any tea or news about what’s happening at Apna?

Does anyone know what’s happening at Apna?

Software Engineer

I have see many lists of places to work at. Let’s create a list of companies not to work at. Please post the company name and the experience of working their.

Top 100 places not to work at!

Welcome to Business Roles's Private Community

The work hours are catching on, don't want to do 70hrs+ weeks. The promotion at 2 yr mark is also difficult (over hiring in our batch, not enough demand + not exceptional performance at my end). Doesn't make sense to stick around for another year at current comp and workload

What are some exit options in the current market? How should I think about evaluating the career move

1.5yr in MBB post MBA, possible exits in current market?

Welcome to Personal Finance's Private Community

I have left company i own around equivalent to approx 6k equity shares. Have not excecised yet. 

Any possibility to convert esops to cash

Require some honest understanding regards to esops

Some thing good in startup ecosystummm!

https://startupstorymedia.com/insights-cardekho-group-announces-5-million-esop-liquidity-buyback-reports-strong-growth-in-fy23/

Cardekho announces $5 mil ESOP buyback

Truths about ESOP 101 

After working in multiple fast growth startup’s and having been part of multiple buybacks as well as being in the startup ecosystem for a decade I want to put to bear my pov about creating wealth through ESOP. 

Like any other randomised event, ESOP also follows Pareto principle which means a very small number of people within the company ever make sizable wealth that they elevate to the top 0.1% of the country. 

The Pareto also applies with companies; significantly small minority of companies in India have employee friendly policies which enables an employee to create wealth. 

Most startup’s have dark patterns within their esop policy which either locks you in for insufferable durations or forces you to pay exorbitant taxes to gain the right to exercise your esops when you are leaving the company. 

Survivorship bias plays a huge role in enabling the narrative that esop is a great wealth generating tool leading to rude awakening for an employee after they join a company. 

This doesn’t mean you can’t make wealth, it just means don’t get carried away by narratives and take preventable errors in your career. 

Always talk to multiple people in startup’s and ask relevant questions to understand esop policies better. 

Like everything else optimising only for esop for wealth creation will mostly not result in it.

Unmasking ESOP wealth!

Consultant

I got a offer where i will get the equity. Does people really make money when company get sold considering in my case if i get 1% equity.

Also how does it work? Suppose when we start valuation of the company is 1 cr so my part will be 1L. Now in the next round suppose the valuation is 10cr then does it increase my equity to 10L or it dilute my % of equity?

Suppose if the company is sold at 100cr, do i really get 1 cr? Kindly let me know how it works and really people make money or not if it get sold.

How does equity works for founding engineer?

Engineering Manager

2 Engineering Director's and a Marketing Director left in last 2 months. 
CTO, CGO, CHRO have put down papers and are leaving soon. 
A Sr. Engg Director has also resigned.
A couple of SDE's joined and are leaving within the month of joining and more older SDE's leaving too.
These are voluntary exits despite the current layoff and downtrend.

Mass exodus at Upstox

Product Manager

Just wanted to give some updates now that it has been 1 month since the last post

1) Senior Leadership from Tech (3) , a senior director from Product , Finance Head have all resigned. Strategy team has been dissolved. 
2) There are more people in the pipeline and will get more clarity by month end.
3) Everyone over the CTC of 60 lakh has been asked about the revenue that they bring in and based on that, their position is being reconsidered.
4) All contract workers have been terminated. Interns have been told that they won't be receiving PPOs.
5) Senior Management Has been asked to take 20% paycuts. 
6) Even at Junior level, people have been asked to take pay cuts or resign.
7) Lots of tools used in tech are being removed and AWS subscription has also been revised.


Meanwhile HRs have been celebrating on slack channels that Yubi has been ranked in Top 25 companies for career development :/

Rampant Negativity at Yubi Part 2

Growth Manager

[Need help] I have 3 lakhs of Pine Labs ESOPs each year. Got this news yesterday where Neuberger berman has reduced Pine Labs valuation by 39%. Does this mean when I try to cash out 3 lakh ESOP, the actual value would be 39% lesser?

Welcome to News Discussion's Private Community

Will society accept me... I found BB as cringe and low iq game.

Never watched a single episode of Big Boss.

Senior Consultant

With the host of startups closing down, was curious to know what does founder net worth usually result in and how do they generally make money for them along the way. Few questions-

1. Do founder sell percentage of own shares in Series A and B raises? I would assume there would be some checks on this but want to know what's the practical reality of this and if this happens what's the amount a founder can make through this 


2. If the startup is clear it has to shut down, what typically happens? Acquisitions? Insolvency?


3. Assume a Series B  level startup with valuation around 150 cr with say 10 Cr annual revenue and 40 cr losses and 30% founder stake and it's clear it has to shut down. In the absence of any acquisition, what money comes to the founder

Founder wealth gains in failed startups

well placed to answer this.
We recently shut down.
we had raised about 4.8 mn USD and were operational for 3 years.
When we decided to shut down we had about 500k in the bank.
The primary reason was so that we could clear all our dues and liabilities well.
We paid 2.5-3 months of severance, laptops to our team.
Then we had to clear a lot of statutory payments, which were usually taken care of from the monthly cash flows.
Then we hired a high charging consulting firm to ensure proper due diligence of closure process so that there are no surprises later, whether it was around taxation, vendor payments or any contracts.
Then we hired a law firm for the closure process.
After all this, the company was left with about 150k USD on the books.
This money was paid out to us two founders as severance payout.
In the 3 years of operations the founders in general averaged at less than 25% of their market salary, which meant depletion of personal resources completely.
The severance amount received by each of us was as good as 60-80% of our market salary.
Net net, financially, less money earned from salary + severance than would have earned in 3 years of my market salary job.
Hope this helps :)

Management Consulting

have been seeing a lot of startup’s having multiple CXOs leaving within a short duration of them becoming profitable.

Is this another cost saving measure?

What do CXO exits in a profitable startup mean

Hey Fellas ! I am working at Flipkart in a business role (Cat Management ) . Recently have been offered a position at cred with good pay.  Take it or leave it ? Thoughts on wlb and stability ?

Cred Or Flipkart ?

Business Development

Welcome to Software Engineers's Private Community

What are the numbers we are getting this time? This is my first cycle, review isn't done yet. Want to know how much to expect.

CRO to exit. What next?

Discover More

Office Gossip on

by Karilyn Carmden

SaaS

CRO to exit. What next?

Indian Startups on

by Aaron Lee

Unacademy

Major Shakeup at Unacademy

Indian Startups on

by Karilyn Lee

Stealth

Does anyone know what’s happening at Apna?

Indian Startups on

by Kendall Carmden

IVY Comptech

Top 100 places not to work at!

Business Roles on

by Aaron Denver

Student

1.5yr in MBB post MBA, possible exits in current market?

Personal Finance on

by Kendall Lee

Student

Require some honest understanding regards to esops

Indian Startups on

by Karilyn Dean

Spinny

Cardekho announces $5 mil ESOP buyback

Indian Startups on

by Isaiah Carmden

Others

Unmasking ESOP wealth!

Personal Finance on

by Anise Taye

Stealth

How does equity works for founding engineer?

Office Gossip on

by Jordon Lee

Adobe

Mass exodus at Upstox

Indian Startups on

by Aaron Lee

Stealth

Rampant Negativity at Yubi Part 2

Misc on

by Kendall Carmden

Pine Labs

[Need help] I have 3 lakhs of Pine Labs ESOPs each year. Got this news yesterday where Neuberger berman has reduced Pine Labs valuation by 39%. Does this mean when I try to cash out 3 lakh ESOP, the actual value would be 39% lesser?

News Discussion on

by Kendall Hyrum

TCS

Never watched a single episode of Big Boss.

Indian Startups on

by Matilda Nadeen

Stealth

Founder wealth gains in failed startups

Indian Startups on

by Anise Dean

Unnamed

What do CXO exits in a profitable startup mean

Business Roles on

by Dezi Everett

Cred

Cred Or Flipkart ?

Software Engineers on

by Anise Carmden

Swiggy

Swiggy performance review