You should be completely mistrustful of anyone who offers you shares and doesn't tell you the # of shares outstanding. Alternately, if they tell you the value of a share, they should tell you the estimated value of the company.
The alternative is presented in Mel Brooks' The Producers.
this is an amazingly important point that many people I've seen new to the startup world ignore to their peril. it is too easy to get big eyes when you hear you are getting 50,000 options not realizing that it is only 0.000001% of the company since you don't know # of shares outstanding, across all classes of shares.
Just once, I'd like someone to provide that information for me proactively. It would instantly increase my estimate of their integrity by 150%.
I had an employer promise one and then try to weasel into giving me the other. I threw a fit and made them fix it. Theynwere bankrupt a year later. :whomp whomp: But my point is when they say "option", ask them to define it One is worth 100 times more shares.
AKA every VC funded startup ever