ESOP BUYBACK PROGRAMME
Purplle closes Rs 1,000 crore funding deal led by Abu Dhabi Investment Authority
Purplle has also announced a Employee Stock Ownership Plan (Esop) liquidity programme and will offer liquidity of Rs 50 crore to its employees. Company cofounder and CEO said they will constantly innovate their technology to provide the best for their customer. Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times over the last three years.
SaaS company AiDash launches first ESOP buyback plan for employees
The company says the buyback, which comes on the back of its $58.5 million series C funding round, underscores its commitment to shared wealth creation.
Nykaa makes Rs 7.17 crore Esop allotment ahead of Q4 results
Companies typically expand their Esop pool to attract and retain talent, align employee and shareholder interests, and enhance overall performance. Private startups also institute buybacks of Esops to help create wealth for employees.
The Sleep Company rolls out second tranche of Rs 2.4 crore ESOP buyback for employees
“The Sleep Company introduced its ESOP programme three years ago, with the goal of providing employees with consistent wealth creation opportunities. We strongly believe that every employee must be rewarded for their contribution to the growth and success of the company and thus employees across the board will get the same amount of ESOP under the current plan,” Priyanka Salot, cofounder, The Sleep Company, said in the statement.
Apple tops in blue-collar jobs; election merchandise now on ecommerce
Apple and its supplier network have become India’s leading blue-collar job creator since the start of the production-linked incentive scheme. This and more in today’s ETtech Top 5.
Pocket FM completes first ever Esop buyback worth $8.3 million
Pocket FM completes $8.3 million Esop buyback for 800 employees, with 25% Esops vested in the first year. Recently raised $103 million from Lightspeed Ventures and Stepstone Group, aiming for a $1.2 billion valuation with ADIA.
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Meesho kicks off Rs 200-crore Esop buyback
Both current and former employees can participate in the buyback programme, its largest to date. Meesho said it had conducted similar buybacks of $1 million, $5 million and $5.5 million in February 2020, November 2020, and October 2021, respectively.
Titan to buy CaratLane employees’ ESOPs for around Rs 350 crore
The company has around 1,700 employees, and its ESOP pool holds around 1.5% stake. Following the purchase of Sacheti’s 27.18% stake in CaratLane, Titan will hold a 98.28% stake in the company.
Byju’s, lenders agree to close $1.2 bn loan terms by Aug 3; Swiggy’s $50 million Esop buyback
Byju’s and its lenders have reached an agreement to lock in the new terms for the $1.2 billion term loan B by August 3, according to a statement from the steering committee of the lenders group – confirming ETtech’s newsbreak from earlier on Monday.
Swiggy announces second tranche of $50 million optional Esop buyback at lowered valuation
About 2,000 employees, including those who transitioned from Dineout after its acquisition by Swiggy, will be eligible for the second tranche of the two-year liquidity programme initiated in June last year.
Data analytics firm Tredence announces second Esop buyback worth $30 million
The buyback will include over 270 employees globally, the statement said, adding that eligible employees will participate in the repurchase and liquidate 40% of their vested ESOP units.
Despite funding winter, some Esop buybacks continue
As the funding freeze lingers on, most start-ups are getting increasingly parsimonious with money and conserving cash. Several others, meanwhile, are laying off staff.
Flipkart may go for $700 million Esop buyback as part of PhonePe financing round
The buyback, likely the largest in India’s new-age internet economy, is part of PhonePe’s latest $1.5-2 bn funding round led by Walmart
Exclusive: Flipkart readies $700M Esop buyback; Noise eyes overseas markets
Walmart-owned Flipkart, known for regularly buying back employee stock options, is likely to execute the mother of all buybacks – a $700 million liquidity event - as part of a huge funding round by PhonePe, sources told us.
Work fulfilment platform Awign rolls out first ESOP buyback worth Rs 4 crore
Under this programme, eligible employees will be able to participate in this ESOP buyback and liquidate their part of the vested stock in the company
CityMall undertakes first Esop buyback worth $1.3 million.
CityMall, which is backed by investors like Accel, Elevation Capital and General Catalyst, raised $75 million in March. Three months later, the company fired about 191 employees to adapt to the changing macroeconomic environment.
Food delivery firm DoorDash approves $400 million stock buyback
According to the company's filing, the move is being made to offset dilution from its employee stock-compensation programme.
Slice, Bizongo complete their first Esop buybacks
Slice, which offers credit cards to new-to-credit customers, said around 60 current and former employees were eligible for its buyback programme, worth Rs 65 crore (around $8.6 million). Close to 54 existing and current employees participated in the buyback exercise
FarEye announces second Esop buyback programme worth $1.2 million
FarEye will be performing this buyback of vested ESOPs using its cash reserves. Under this liquidation, eligible employees have the opportunity to liquidate a fixed proportion of their vested ESOPs.
Ninjacart conducts Rs 100-crore ESOP buyback for current, former employees
Ninjacart’s ESOP buyback announcement comes days after Flipkart and Walmart invested $145 million in the company. Flipkart recently effected its own ESOP buyback worth Rs 17,000 crore—the biggest in India’s startup ecosystem.
Esops worth Rs 3,200 crore bought back by startups
In the last few months, companies have come up with attractive Esop liquidity plans.
PhonePe conducts Rs 135-crore ESOP buyback
PhonePe, part of the Walmart-controlled Flipkart Group, has conducted ESOP buyback worth Rs 135 crore, but the company founders—Sameer Nigam and Rahul Chari—have given it a miss.
Meesho announces ‘ESOP for all’ programme
Meesho’s ‘ESOP for all’ enables all full-time employees—irrespective of their tenure in the company or their seniority—to be able to convert a maximum of 25% of their annual CTC into ESOPs, subject to a minimum of Rs 50,000.
Meesho announces ‘ESOP for all’ program
“Our repeated and periodic buybacks ensure our employees continue to grow with us,” said Vidit Aatrey, Founder & CEO, Meesho. “The MeeSOP program takes this commitment further, breaking hierarchies to make every employee an owner, and providing more avenues for wealth creation. As we hire more talent, we will continue to provide our team with the means to realize their personal and financial goals with us.”
Meesho undertakes third ESOP buyback worth $5.5 million
Meesho, a social commerce platform that’s looking to take on Amazon and Flipkart in India’s ecommerce space, has repurchased ESOPs worth $6 million so far with across-the-board participation.
Swiggy announces $35-40 million liquidity programme for employee stock options
The programme is pegged at $35-40 million at Swiggy's $5.5 billion valuation following its $1.25 billion funding round in July, according to industry sources. All employees with stock options will be eligible to participate.
Classplus completes ESOP buyback worth $1 million
Classplus will use the proceeds of the ESOP buyback to pay referral bonus to employees—an industry first, according to the company. Over 30 employees participated in the buyback.
Licious opens its first-ever Esop buyback option worth Rs 30 crore
The buyback option worth Rs 30 crore is set to benefit close to 600 employees
Moglix completes USD 3 million ESOP buyback; expands pool to USD 10 million
It has a supply chain network of over 16,000 suppliers and more than 35 warehouses and logistics infrastructure. The company, which also offers end-to-end supply chain operations from sourcing to financing, has a team of about 1,000 employees.
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