The only thing that matters is profit for the PE firm - Anonymous employee SimpliSafe Employee Review

1.0
12 Aug 2021
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

There are some great people at SimpliSafe who truly care about the product. You get unlimited PTO and a free system.

Cons

DO NOT TRUST THEIR COMP PACKAGE! The options component is a lie. They withhold an important document that governs the options vesting and only show you after you've worked there for a couple months. 50% of your options only vest if the PE firm quadruples their money. Furthermore, they do shady stuff with changing the exercise price and telling you the options are worth more than they are. Speaking of terrible private equity companies, the company is in a stranglehold by the primary investor: H&F. As you move up, it truly feels like you just work for the PE firm. Their only goal is to maximize near term cash flow, basically no one at the C level cares about the product. They are looking to cash out. Once they IPO, the company will look a lot like WALL-E: everyone will leave and the company will be basically left to die, filled with technical and managerial debt. The C suite have a very old fashioned approach to business: for example trying to get people back in the office as soon as possible so they can look over your shoulder while you work 9-5. This is antithetical to how technology should be approached. Overall, the company is a dumpster fire and will continue to be such while PE is involved.

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SimpliSafe Response
4y
When I read this review, I wanted to personally address your comments. I’m not sure if you are a current employee or past, but I don’t want anyone feeling the way you described while working here. If you’re a current employee, I hope we can turn this around. If you’re a past employee, I’m sorry we didn’t do better. This is good feedback on the confusion with our equity program. I’m concerned because some of your facts are incorrect and this means we aren’t doing enough to educate participants. If you’re a current employee, come to an equity info session so we can go over all the finer points. Some of the basics -- like how an exercise price (which is set) differs from share prices (which are not static) -- are, in fact, standard practices. Admittedly we know equity can be confusing, especially if you are new to a private-company equity program, and we are working on improving our communications and investing in giving candidates and employees clarity. I’m saddened to hear your point of view on the executive team’s dedication to our products and our Mission. This tells me we could do better to make the work of our executive team more visible in our remote environment. This also pertains to your comments about H+F. For more than 30 years, H+F has established a well-deserved reputation for being a collaborative investment partner and, that too has been my personal experience and observation in my time here. As you may be aware our founders, Chad and Eleanor Laurans, are also active Board members, and they continue to keep us grounded in our mission: Every Home Secure. The return to office issue is a tough one as there is no playbook for these times. Like many other tech companies, we are listening carefully to our employees and experimenting to find what makes the most sense for different teams and thus us as a company. For now, though, we’re still mostly remote and we’re planning for a hybrid model where we experience the best of both work from home and collaborating in person. If you’re a current employee, please reach out to the People Team (or me personally) so we can continue this dialogue. We really do want people coming to work feeling fulfilled and motivated. There’s always room to learn and do better, and we are no exception. With gratitude, --Ai-Li Chief People Officer

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