According to crunchbase http://www.crunchbase.com/organization/relateiq they took 3 rounds on top of seed funding. So in the best case scenario, each round diluted by 20%, leaving the founder team and employees with ~50% ownership (= 80% * 80% * 80%). Again, best case scenario, there is no participating preferred, then 2% options will end up somewhere around .8% (depending on the option pool), which is between 2.5M and 3M.

Worse case scenario, all rounds come with 3x participating preferred and much bigger percentage than 20%, and the options pool got inflated to accommodate more recent employees. So in this liquidity event, the VCs take 3 * 70 = 210M out first, leaving 150M on the table. 2% options might end up being .1% equity, resulting in 150K for the first employee (before tax).

The real number is somewhere between the two. From my experience, it's more likely closer to the lower end than the higher end.