Oh man, I just went through something similar, with a startup that was also growing quickly (and continues to grow to some degree). First, the options are wort

Oh man, I just went through something similar, with a startup that was also growing quickly (and continues to grow to some degree). First, the options are worth nothing, especially if you don't have a market. The strike price is pretty much meaningless (although in your case unusually high). Even if you IPO'd at this strike price (and you won't), you'll really only care about how much the actual stock price moves from that strike price. Second, there are inevitably investors that have options with greater preference than yours. Before you IPO, your management is going to use the opportunity to shuffle equity around. In my case, the directors performed a reverse split that halved the number of my options and doubled the strike price. The directors/early investors got a better split, hence equity was shifted from employees to the upper level. Expect this is coming (and from your strike price seems like it's already been done at least once). As a cautionary tale, I actually "own" (not entirely vested) quite a few options compared to my fellow employees. They are literally worth zero dollars. The only employees in my company that got anything were the really really early ones. tl;dr: if your company ends up being a unicorn these options might be worth a lot; if your company is outstanding they may be worth a little; if your company is typical they'll be worth next to nothing or nothing