I’m being offered a position in a startup. It’s a branch off an existing pre-series A, post angel round startup. The parent startup is creating a new entity in a different country. Their current product is to be modified and introduced in another market, with a different pricing model. Essentially creating a new startup.
The offer is for me to join the new startup as employee no2 (essentially a cofounder). This isn’t exactly a blank slate as the parent company will have some ownership roughly 20% and will be covering some initial costs. The offer consists of me taking a low salary. I also get 5% equity in the new startup + a further 5% conditional to us reaching 1k business users in the first 12 months.
Is this a reasonable offer for me to take given the circumstances?
The offer is for me to join the new startup as employee no2 (essentially a cofounder). This isn’t exactly a blank slate as the parent company will have some ownership roughly 20% and will be covering some initial costs. The offer consists of me taking a low salary. I also get 5% equity in the new startup + a further 5% conditional to us reaching 1k business users in the first 12 months.
Is this a reasonable offer for me to take given the circumstances?