Know what your startup equity is really worth — and what to do with it.
Understand your private-company equity
Know what your startup equity is really worth — and what to do with it.
Got shares in a tech startup for sale? Value your stake, understand dilution and tax, and prepare to turn it into cash — with plain-English, sourced guides and free tools for founders and employees across Europe and the US. No jargon, no sales pitch — we help you do your homework.
What the big number hidesheadline
€240,000
25,000 shares × €9.60 last-round price
See what yours is really worth →
What's my equity worth? → See the toolkit
Considering selling? Explore your options →
✓ Free tools, no sign-up ✓ Sourced & plain-English ✓ Built from real experience
From grant to exercise to a future sale — understand the whole picture.
Just getting oriented? Start with the free equity starter kit — glossary + the letter that unlocks your paperwork.
250+ company guides 8 country tax guides 4 free calculators
Our yearly read on US & EU private tech → 2026 report
Start here — where are you?Pick your moment
Just got itI've been granted equity — is it worth anything?› LeavingI'm leaving — can I still sell, and what does it cost?› New roundWe just raised — how much was I diluted?› SellingI want to sell — what discount is fair, and where's the buyer?› TenderThere's a tender offer — should I take it?› ExitWe might IPO or get acquired — what happens to my options?›
Free toolsNo sign-upTry instantly
?Not sure where to start?Answer 4 questions → your guides & tools.Open → %What's my stake worth?A quick, discount-based estimate before you sell.Open → ≈Exit waterfallWhat you'd really get after investor preferences.Open → +See all free toolsISO/AMT exercise, dilution & more.All 4 →
What this is for
Make sense of the private-company part of your net worth
Most people with startup equity have no clear picture of what they hold, what it's worth, or what to do before a liquidity event. These tools and guides give you that picture — and the steps to act on it — in plain English, with the sources shown.
01
What you actually hold
Work out a realistic range for what your shares or options are worth today — from your last round, share count and what you actually hold. Free, no sign-up.
Free estimator
02
What it's really worth
What it costs to exercise, how dilution changes your slice, and how a sale is taxed in your country — the numbers that decide your net outcome.
Guides & calculators
03
What you can do with it
Vesting, ROFR, board approval, transfer restrictions — the things that decide whether, and how, you can turn equity into cash before an exit.
Readiness
04
How to prepare — and turn it into cash
The document checklist, the letter that pulls your paperwork, and the questions to take to your company, lawyer and accountant — the homework that turns your numbers into a decision you can defend. It's in the toolkit.
You stay in control
Want it done on your exact numbers? The Equity Position Report runs the whole picture — worth, exercise cost, dilution, tax and a step-by-step plan — on your own grant.
Founders & early shareholders
Understand what you've built
- ✓Value your stake — a realistic range, adjusted for common vs preferred.
- ✓See through dilution — how each round changes your real slice.
- ✓Know the tax — how a sale is treated in your country, with sources.
- ✓Prepare a sale properly — ROFR, approvals and the paperwork, step by step. Value your stake →
- ✓What it costs to exercise — strike, tax and the AMT trap, before you commit.
- ✓The leaver deadline — the \~90-day window and what happens if you miss it.
- ✓Can you even sell? — vesting, ROFR and board approval, in plain English.
- ✓By country — Germany, UK, France, Spain, Italy, NL, Poland guides. See the toolkit →
- A new opportunity. Another company to back, or your own to start — better to use value you already have than to borrow.
- A big life purchase. A home, a move, a wedding — turning a small part of your equity into cash now simply makes sense.
- Peace of mind. After years of hard work, taking some money out so that not everything rides on one exit that may be years away.
- You've moved on. You've left, options need exercising, tax needs planning — no reason to let paper value sit idle.
- Getting in early. Into a company they believe in — often at an earlier stage, and usually cheaper than after the next round or an IPO.
- Access they can't get elsewhere. Many good private companies never open a round to individual investors; a secondary is a way in.
- Backing people, not just names. Buying from a founder or early employee who knows the business from the inside.
- A sensible bite. €10k–€750k, on their own terms — no fund or syndicate in the way.
- The 60-second map of how a private sale works, start to finish
- Plain-English glossary + a 2-minute “are you ready?” check
- Who's across the table (board, HR, investors) — and what they want
- The real deadlines to watch + the “request my documents” letter, ready to send
- 5 explainers: mechanics, ROFR & approval, pricing, tax
- 3 draft documents your company signs (ROFR waiver, board consent, vesting confirmation)
- Readiness audit + board reassurance one-pager
- A full set of ready-to-send emails for every step
- Selling by country — seven European markets (Germany, UK, France, Spain, Italy, Netherlands, Poland): what you hold, how it transfers, and the local tax — each with a source
- Demystifying AI in private share sales — what you should know: expert prompts to use ChatGPT or Claude for your sale, plus the guardrails for when to trust it and when to verify
- 5 explainers: options & 83(b), ROFR/co-sale, ERISA note, pricing, capital gains
- 3 draft documents your company signs (ROFR waiver, board consent, vesting confirmation)
- Readiness audit + board reassurance one-pager
- A full set of ready-to-send emails for every step
- US tax deep-dive: AMT & QSBS — the AMT trap when exercising ISOs, and the Section 1202 exclusion that can make a large part of your sale federally tax-free
- Demystifying AI in private share sales — what you should know: expert prompts to use ChatGPT or Claude for your sale, plus the guardrails for when to trust it and when to verify
Employees & leavers with options
Make the right call on your options
Estimator
What's your stake worth?
A rough guide in ten seconds. It prices off your last round, then adjusts for what you actually hold — common shares are worth less than the preferred shares investors bought — and for how liquid the company is. You get a realistic range, not a single number.
Currency
Shares you'd sell — number of shares
Price per share at last round (€) — the headline/preferred price from your term sheet or cap table
What you hold
Hold virtual or phantom units (e.g. German VSOP, some ESOPs)? Those are usually cash-settled and can't be sold on a secondary — see the country guides.
Strike price per share (€) — the fixed price set in your grant to buy each share; you pay this to turn options into shares
Company stage & buyer demand
Realistic sale price
€13,200–€16,800
for common shares, sold privately at a discount to the €24,000 last-round value
At last-round (headline)€24,000
Cost to exercise−€0
Estimated net to you€13,200–€16,800
Prepare with the toolkit →
An estimate only — not a valuation, offer or advice. Real price depends on the company, the round, demand and any restrictions on your shares. Tax on the sale (and on exercising options) isn't included.
The landscape
Where the big platforms fit — and where they don't
Forge, EquityZen and Nasdaq Private Market are built for large, late-stage, mostly-US deals and institutions. If you hold a small stake in a European company, they're usually not built for you — which is exactly why understanding your own position, first, is worth the ten minutes.
Read the full, sourced comparison →
How we work
Straight, sourced, and on your side
PrivateTechShares is an information and tools resource for people who hold private-company equity. We help you understand and prepare — we don't hold your shares, and we don't sell them for you.
✎
#### Education & tools — not advice
Plain-English guides and estimates to help you think clearly. Nothing here is investment, legal or tax advice; take professional advice before you act.
◎
#### Sources shown
Tax rates, valuations and rules are cited and dated. Things change — we show where a number came from so you can check the current position.
✓
#### Free where it matters
The estimator, the calculators and the country guides are free, with no sign-up. The toolkit is there when you want the full, prepared version.
⇄
#### You stay in control
Whatever you decide — exercise, hold, or sell later — is yours. ROFR, board approval, price and paperwork stay entirely with you.
◐
#### Your data, minimised
GDPR from day one. We don't sell your data, and we only ask for what a tool actually needs. Privacy.
Guide
Thinking of selling? Start here.
For founders, co-founders and employees with options (ESOP) — whether you're leaving, exercising just some options, or simply want to understand what you hold. Everything here helps you decide and prepare; the choices stay yours.
★ The field guide: what every founder & employee should know about their equity →
FoundersCo-foundersESOP / early employeesEx-employeesEarly angels
A secondary simply means selling shares you already own to a buyer — the cash goes to you, not the company. You don't have to sell everything: most people sell a small slice for some liquidity now, instead of waiting years for an exit.
Left a startup with options? Your ESOP options aren't shares yet — you usually have to exercise them (and often within \~90 days of leaving) to own real shares you can sell. Mind the deadline and the tax on exercising — take advice before you do.
The one thing to confirm: that your shares are free to transfer. If there's a right of first refusal or board approval, that's not a dead end — you just clear it with your company or board first. That's the seller's job, and it's usually routine.
1. Check you can sell. Vested, and any ROFR / approval cleared. 2. Work out a fair price. Usually the last round's value, at a discount for a private sale — the estimator gives you a range. 3. Find your buyer. Existing shareholders, an incoming round's investor, or a private buyer — see who actually buys private shares and where to find them. 4. Deal & transfer. Agree terms, clear ROFR, sign the transfer (often via a notary), and the buyer pays you directly.
Start here Can you sell? (shares vested · restrictions cleared) NO Clear ROFR & board approval first YES How much do you want to sell? ALL / MOST One direct sale — whole block, cash A SMALL PART Understand what it's worth, the discount and the tax — that's where PrivateTechShares helps
General information, not legal or tax advice — rules differ by company and country.
Why people sell
Good reasons to take a little off the table
It's your equity. Wanting a little liquidity is normal — and, once any restrictions are cleared, entirely your right.
Why investors buy
Why a private buyer wants in
That's why the right buyer is often glad to hear from you — you're offering something they can't easily find.
Read the full guide — how to sell your startup shares or options →
Hold shares in a European unicorn? See the EU Unicorns list →
Thinking about it? Free reads: Cost of exercising (US) · How to get liquid · What are they worth? · What's a fair discount? · Can I sell before an exit? · Selling after you've left · Using AI safely · Who buys your shares? · Selling a small stake in Europe · Sell in Germany · the UK · the Netherlands · Spain · Italy · France
Free tool
What will it cost to exercise your options?
Left a startup with vested options? Before you can sell, you usually have to exercise them — pay to turn them into real shares. Here's the rough cost and the paper gain, in ten seconds.
In the US? Use the AMT-aware version — it adds the tax (AMT / ordinary income) you'd actually owe →
Vested options — number you can exercise
Strike price per share (€) — from your grant letter
Last-round price per share (€) — latest valuation, per share
Country — for a rough tax note
Cost to exercise
€10,000
to turn 5,000 options into real shares
Shares would be worth (last round)€60,000
Paper gain before tax€50,000
Tax on exercising and selling varies by country and plan — confirm with a local adviser before acting.
Understand the tax & process → Ready to sell? List →
A rough orientation only — not tax, legal or financial advice. It ignores your specific plan terms, transaction fees and the exact tax due, which depend on your country and scheme. Confirm with a qualified adviser before exercising.
Prepare
The assessment every shareholder should do
Before any decision you can't undo — exercising, holding or selling — you owe yourself a proper assessment: what you actually hold, what it's realistically worth, the restrictions that apply, and the tax. The toolkit is that assessment, structured — the plain-English explainers, ready-to-send emails and document drafts that turn a vague sense of your equity into a decision you can stand behind, for Europe and the US. Built from lived experience of the process — the judgment calls and the traps, not definitions you could look up.
New — how to use AI safely to help sell your shares →
Free
Equity Starter Kit
Get oriented in one sitting — the whole journey mapped, the words explained, and the letter that pulls your paperwork from the company.
Free · instant download
Instant · no email needed. Want the occasional useful update?
Keep me posted
✓ Thanks — you're on the list.
Paid · Europe Most popular
Equity Toolkit — Europe
Everything to prepare, request and clear a small European secondary (€10k–€750k).
€39 · one-off · instant download
Get the Europe toolkit — €39 →
Secure checkout by Stripe · instant PDF download · try the free kit first
Paid · US
Equity Toolkit — US
The same, tuned for the US: options (ISO/NSO), 83(b), NVCA-style ROFR & co-sale.
$39 · one-off · instant download
Secure checkout by Stripe · instant PDF download · try the free kit first
Best value · Complete bundle
Both editions — Europe + US
Get the full Europe and US toolkits together: every explainer, template, email, the seven-market European tax guides and the US AMT & QSBS deep-dive. Two instant PDF downloads.
€78 €59 · save €19
Secure checkout by Stripe · both PDFs
Go deeper · Personalised
Equity Position Report
Your equity position — ready for any conversation.
A complete read of your private-company equity: what you hold, what it may realistically be worth, the cost to exercise, how dilution and tax affect you, and your next steps. The document to have in hand before you talk to your company, a potential buyer, your tax or legal adviser, or a platform like Carta or Forge. Built from your own figures — privately, in your browser.
What's inside
Your position at a glance — a one-page summary you can share_New_ What it may be worth — scenarios, before and after tax Cost to exercise — strike plus the tax to investigate (incl. AMT) Dilution — how future rounds change your slice Exit waterfall — what you'd receive after investor preferences Tax by country — the treatment where you are Your conversation pack — your numbers and the exact questions to ask_New_ A step-by-step plan — what to do, and in what order
Built on the Equity Position Methodology (v.1.2026) — transparent and sourced.
$129 · one-off · instant PDF
Build & download your report →
Or add expert human review — $249
An AI prompt can give you an answer. Preparation gives you a position.
We work through the documents, tax detail and process so you understand what you own, what it may be worth and what comes next. We don't introduce buyers or hold funds — we get you prepared to act.
A look inside
Real sample pages from the report and toolkit — your one-page position, your conversation pack, and ready-to-use documents.
✓ Secure checkout by Stripe ✓ Instant PDF — no account needed ✓ 30-day money-back guarantee ✓ Free Starter Kit — try before you buy
These are educational guides and starting-point drafts, not legal or tax advice. Every document is written in plain English to adapt and have reviewed by a qualified lawyer before anyone relies on it. Laws and taxes vary by country — always confirm your own position locally.
Quick check
Can I sell my shares?
Four quick questions. Nothing is stored — this just points you in the right direction.
1 What do you hold?
Shares I already ownOptions (ESOP), not yet exercisedNot sure
2 Have they vested?
Yes, all or someNo, not yetNot sure
3 Is a right of first refusal or board approval needed to transfer them?
YesNoNot sure
4 Roughly how much would you sell?
Under €10,000€10,000–€750,000More than €750,000
See where you stand →
General information, not legal or tax advice.
Why this exists
A small, honest way to get liquid
PrivateTechShares started from a simple frustration. People who help build early-stage companies often end up with something valuable on paper — shares, options, or a small stake they’ve worked hard to earn. But when life happens and they want access to a little cash, there’s rarely an easy path.
The larger secondary platforms usually aren’t interested in a €30k, €50k, or even €100k transaction. And trying to sell privately can feel uncomfortable — you’re not sure who to speak to, how much your shares are worth, or how to have those conversations without drawing attention.
That frustration is personal. Having spent years building a company toward Series A, I often found myself wondering the same things many founders and employees do: what is this equity actually worth? Is there a sensible way to get some liquidity without selling everything? Who do you even ask?
The reality is that most of the knowledge around private-company equity sits with VCs, angels and professional advisers. For the people who earned the equity in the first place, the process can feel opaque and out of reach. PrivateTechShares is a small attempt to change that — by putting clear, honest information and practical tools in your hands.
So the model is deliberately simple. No fund, no marketplace, no broker. Just plain-English guides, free calculators, and a toolkit that helps you understand what you hold, what it’s worth, and how to prepare — so you can make your own decisions with confidence.
That’s it — a practical resource for people who have built real value and want to understand the private-company part of their net worth.
Operated by Asset · questions go straight to us at deals@privatetechshares.com
Questions
Good to know
Is my equity worth anything before an exit?
Often, yes — but usually less than the last-round headline price. You typically hold common shares (worth less than the preferred shares investors bought), the stake is small, and the company is illiquid. The free estimator gives you a realistic range to work from.
What does it cost to exercise my options?
You pay the strike price for each share, and there can be a tax charge at exercise — in the US, the AMT on ISOs. The free calculators estimate the exercise cost and the tax angles so you see the real number before you commit. If you've left, watch the \~90-day exercise window.
How is selling startup shares taxed?
A gain is generally a capital gain, but the rate and rules vary by country. The country guides cover Germany, the UK, France, Spain, Italy, the Netherlands and Poland — each with a source and current 2026 figures. Always confirm your own position with a tax adviser.
Do I need the company's permission to sell?
Usually there are transfer restrictions — a right of first refusal and often board or company approval — in your shareholder agreement. That's not a dead end; you clear it with the company first. The guides explain how each restriction works.
Do you sell my shares or find me a buyer?
No. PrivateTechShares is an information and tools resource — we help you understand and prepare, and we point you to who typically buys private shares. We don't hold your shares, broker a sale, or take a cut of any transaction.
Who is this for?
Founders, co-founders, current and former employees with options (ESOP), and early angels — anyone across Europe or the US trying to make sense of shares or options in a private company.
Contact
Questions about your equity?
Email us at deals@privatetechshares.com — we read every message and reply personally.
We can't give personal financial, legal or tax advice, but we're glad to point you to the right guide, calculator or toolkit for your situation — or to hear what would help you most.