FilterUS - All CitiesSenior Vice President
I have been working at Glassdoor full-time (More than 8 years)
Over 8 years in and I'm still having fun. The Glassdoor world has changed quite a bit. But way more good than bad. For me most importantly, what we do matters - helping people find a job and company they love - is a noble mission and one that I believe in. We work with a bunch of really smart people but that also have a genuine appreciation for human beings. We get to solve interesting problems every day and those problems see the light of day as they help our job seekers and employers....and it's working. Being part of a growing company that is succeeding feels great.
We're getting bigger and more complex. It's sometimes hard to know how to get something done. There can be ambiguity around ownership (hopefully our new CPO will help fix that soon).
Advice to Management
Continue to work hard to be as transparent as possible. Focus on communication to ensure people are aligned. And fight to stay scrappy.
I worked at Glassdoor full-time (More than 3 years)
The site benefits job seekers and is good for the world. The company is young, energetic and has a good sense of camaraderie.
The stock option plan has several significant flaws that make the stock riskier than other startups. Most employees aren't aware of these flaws. The CEO has been aware of these issues for years and has not done anything about it. In fact he has done one thing to make it even riskier. He has failed the employees in this area.
Glassdoor rejected the first version of this review because I was specific about the ways it is riskier and leads to more tax for employees and exiting employees. So, to get this version approved, I am going to have to be more vague and leave it in the hands of the current employees to investigate and resolve with the CEO.
Without specifically saying what Glassdoor plan has or doesn't have...Theoretically, here is what a good stock option plan puts in place for its employees:
1) a way to avoid paying tax when option holders exercise stock. The way to do this is typically by putting an 83b program in place so employees can early exercise their stock when it's fair market value is the same as their grant price. If an 83b doesn't exist, employees can only exercise when they vest and it is likely that the 409a value has increased and the employee would have to immediately pay tax on the "paper gain". This puts the employee in the situation where they have to pay taxes and they actually can't sell the stock to help pay the taxes.
2) a way to get the clock started on the holding period required to pay the capital gains tax rate instead of the ordinary income rate when a liquidity event happens. This can amount to a large savings (i.e. 30%-50%) which is real money. This is also typically done via an 83b program. And...this is INCREDIBLY IMPORTANT TO EMPLOYEES WHO HAVE BEEN THERE FOR MULTIPLE YEARS, An 83b program is one of the ways to enable employees to get the clock started on the 5 year holding period required for QSBS exemption which can mean that NO CAPITAL GAINS taxes are paid. This can be a HUGE savings for employees when there is an IPO or acquisition.
3) the ability to sell vested shares when the employee has a financial need. With many startup staying private for 10 years before a liquidity event...it is likely that employees will have financial needs during that period - everything from wanting to put a down payment on a house to paying for kids' schools, a wedding, or elder care. When a company is still private, the way they can enable employees to meet their financial needs is to not place "transfer restrictions" on the stock. This allows employees to use sites like equityzen and Sharespost to sell their stock to a third party buyer.
If you look on EquityZen's website...you'll see that many bay area tech company employees' are able to sell their shares on the secondary market.
Advice to Management
1)Make being a stockholder less risky.
2) Provide copies of any stock related document / by-laws to the employees and shareholders
3) explain to the employees what they can and can't do with their stock.
4) explain what the stock plan provides to help the employees avoid unnecessary tax consequences
I have been working at Glassdoor full-time (More than a year)
What is rare about glassdoor is how connected every employee is to our mission. It gives each person tremendous fulfillment that their time here is well spent - we are helping people everywhere find the job they will LOVE. Glassdoor has a big opportunity to disrupt the $100B recruiting market. Great product with next to no competition. Lots of energy and enthusiasm. Still early enough for new employees to have a BIG impact on our future. Strong founding team who are smart, proven and who take the time to get to know the employees. On the path to IPO and beyond.
Depending on where you live in SF Bay Area, it can be hard to get to Sausalito. Many folks commute from over an hour away. Of course, once you are there...it is hard to beat the views.
Advice to Management
Keep the culture and values intact. Keep finding great talent, wherever they live in the world and relocate them to beautiful Sausalito. Keep building great products. Keep investing in people and giving ample room to grow. Get us into the new building on the bay...STAT.
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