The "official" way to do this is through what's called a 409A Valuation, a process designed to assess the fair market value of your common stock (and other clas

The "official" way to do this is through what's called a 409A Valuation, a process designed to assess the fair market value of your common stock (and other classes, eventually). You can do one yourself (note: talk to your CFO first -- you have someone handling that if you've closed a convertible note, right?), or pay a third party (usually a bank) to do it. They're relatively inexpensive. You'll have to do one if you ever want to grant options (or RSUs) to potential employees. How else do you set the options' strike price?