ESOP BUYBACK PROGRAMME

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 the...

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.

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 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 s...

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 $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.

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.

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 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.

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.

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.

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.

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

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.

Under this programme, eligible empl​oyees will be able to participate in this ESOP buyback and liquidate their part of the vested stock in the company

​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.

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...

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’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.