Cursor (Anysphere)ISO/NSO
Founding Engineer equity at Cursor: options and secondary market value
Cursor has 140 employees and $500M ARR — meaning enormous equity concentration per person. Here's what early engineer equity is worth at the $9B Series B valuation.
Cursor (Anysphere) — current market snapshot
Last primary round
$29.3B
Series D · 2025-11
Secondary market
$29.3B
+0% vs primary · Hiive · 2026-04
Annual revenue (ARR)
$2.0B
+500% YoY
Equity type
ISO/NSO
Strike: $150–$190
Typical equity range — Founding Engineer at Cursor (Anysphere)
$500K–$5.0Mat grant-date value · varies by level and negotiation
Total compensation range: $250K–$500K (base + bonus + equity amortized)
Key things to know
- →Cursor has ~140 employees and $500M ARR — among the highest ARR-per-employee ratios in tech history.
- →Early engineers (2022–2023) received ISO grants at sub-$1/share strike prices. At $9B valuation: extraordinary gains.
- →Secondary market implies ~$12B — a 33% premium over the $9B Series B.
- →Small team means significant concentration risk — but also the highest per-employee equity stakes.
Calculate your specific grant
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Liquidity outlook for Cursor (Anysphere)
IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
As an option holder, you'll need to exercise your ISO/NSO to own shares. Strike price, exercise cost, and tax treatment (ISO vs NSO) all matter. Model carefully with a CPA.
Frequently asked questions
How much equity does a founding engineer at Cursor have?↓
Cursor's founding engineers (first 10-20 employees) likely received 0.1%–1%+ of the company's equity at very low strike prices (sub-$1). At a $9B–$12B valuation, that translates to $9M–$120M in equity per person before dilution. The concentration risk is high — Cursor is a single-product company — but so is the upside.
Does Cursor have a secondary market?↓
Yes. Hiive shows active trades for Cursor shares implying a ~$12B valuation as of early 2026. The thin team and high ARR/employee ratio makes Cursor one of the most-watched secondary market names.