A niche facet of startup employee pay, explained

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This is our Wednesday show, where we niche down to a single topic, think about a question and unpack the rest. This week, Natasha...

Stripe’s new and lower internal valuation, explained

Stripe has been in the news this past week for lowering its own valuation to around $74 billion from $95 billion, a 28% decline that  made waves in startup-land. Given the company’s size and its status as one of the most richly valued startups in history, the...

WTF is a 409A?

In the past few months, both Stripe and Instacart have seen their internal valuations updated in a 409A appraisal process. The startups saw their valuations being slashed by 28% and 38%, respectively, as a result of the appraisals. What do these repricings signal...