your valuation is correct from what I remember being told by friends.
It's a reasonable return for early employees, but way under $10 a share as they had over 26 mil shares before series b. Assuming 20% dilution in series b, and no other dilution, looking at closer to $7.5 a share in total. Then you get into the VC liquidation preference which would lower value of the employee shares further. Of course if your strike price is 50 cents a share, you still made money, just not what you might have hoped for.
It's a reasonable return for early employees, but way under $10 a share as they had over 26 mil shares before series b. Assuming 20% dilution in series b, and no other dilution, looking at closer to $7.5 a share in total. Then you get into the VC liquidation preference which would lower value of the employee shares further. Of course if your strike price is 50 cents a share, you still made money, just not what you might have hoped for.