It happened at the height of the boom. Ask Jeeves bought our company for over $500 million. As part of the acquisition I and many others were awarded with a hefty pile of stock options, but those options were locked up for a year or so in order to encourage us to stay at the new company. On paper, at the time of the acquisition, my stock options were worth well over $1 million, and the stock price of Jeeves was somewhere around $110.
By the time I could exercise my stock options a year later they were worth under $10,000 and the company stock price was under $1. We were lucky to survive the bubble burst…
Prior to all that it was pretty amazing. Our startup had a game room with pinball, pool, ping pong, etc. and we’d regularly have major discussions while playing a game. The company also bought us lunch every Friday for the better part of two years. And we had a really amazing team of engineers & leaders running the place. I’ve kept in touch with a number of those folks over the years, and have a number of those connections to thank for more than one job I’ve held after that one.
It happened at the height of the boom. Ask Jeeves bought our company for over $500 million. As part of the acquisition I and many others were awarded with a hefty pile of stock options, but those options were locked up for a year or so in order to encourage us to stay at the new company. On paper, at the time of the acquisition, my stock options were worth well over $1 million, and the stock price of Jeeves was somewhere around $110.
By the time I could exercise my stock options a year later they were worth under $10,000 and the company stock price was under $1. We were lucky to survive the bubble burst…
Prior to all that it was pretty amazing. Our startup had a game room with pinball, pool, ping pong, etc. and we’d regularly have major discussions while playing a game. The company also bought us lunch every Friday for the better part of two years. And we had a really amazing team of engineers & leaders running the place. I’ve kept in touch with a number of those folks over the years, and have a number of those connections to thank for more than one job I’ve held after that one.