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Think OP meant $70M not $70B if they just raised $17M in funding.

To calculate your gross $ value today, you need to know your # of shares (10K) divided by total fully diluted outstanding shares (607,500,000) multiplied by the valuation (probably $70M).

Strike price is your cost to exercise the options, which should be deducted from your gross value. You will likely also incur taxes unless you exercise right away via 83B election

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The value is $0 today because there is no market (it’s an early stage startup) where you could sell those shares(?)

The shares are a lottery ticket at best unless you have conviction in the companies ability to succeed and become more valuable overtime.

$70M valuation makes more sense.

Only 10K shares feels very low though if there are really 607M outstanding shares (seems too high). It's Seed-Series A, your friend should be getting at least 0.1% even as a junior IC: : https://topstartups.io/startup-salary-equity-database/

IMO something is wrong with this database: most of the pre-seed startup entries have market* salaries.

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*) might be below today's market, but still not something a pre-seed startup could pay their employees.

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