MEESHO ESOP
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.
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.
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.
PB Fintech's maiden profit; another markdown for Meesho
Policybazaar parent PB Fintech on Tuesday reported its first ever net profit on the back of strong revenue growth for the quarter ended December 2023. This and more in today’s ETtech Top 5.
Fidelity further marks down fair value of Meesho
A fund managed by financial services major Fidelity has further marked down the fair value of e-commerce firm Meesho, according to a monthly disclosure made by the fund.
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Tata Digital's Esop delay; inside Nithin Kamath's Rainmatter
Hit by top-deck exits in the past year, Tata Digital, the ecommerce arm of the Tata Group, is trying to assuage senior executives who are still waiting for the stock option component of their pay. This and more in today’s ETtech Morning Dispatch.
Paytm founder Vijay Shekhar Sharma hearts Meesho turning profitable, congratulates CEO Vidit Aatrey for scripting a success story
Softbank-backed e-commerce platform Meesho turned profitability in July due to a significant rise in its revenue and order volumes. CEO Vidit Aatrey took to social media to share a note.
Byju’s, Meesho face valuation cuts; electric two-wheeler beneficiaries’ tally under FAME slashed
On Tuesday, BlackRock further marked down the valuation of edtech firm Byju’s, while Fidelity Investments slashed Meesho’s valuation by 10%. This and more in today’s ETtech Top 5.
Fidelity Investments cuts Meesho's valuation by 10% to $4.4 billion
Notably, Fidelity’s funds had valued Meesho at $4.98 billion as of December 2022. Prior to that, as of September 2022, the investor had ascribed a valuation of $4.29 billion to Meesho.
Ecommerce startup Meesho cuts 15% workforce; layoffs amount to 251 employees
CEO Vidit Aatrey tells staff firm made judgment errors in over hiring, now aligning people cost with new biz projections
Made judgement errors in over-hiring: Meesho CEO Vidit Aatrey after announcing layoffs
Meesho joins a growing list of Indian startups that have been downsizing their employee amid a larger reset in the technology industry globally.
PE, VC investors seek tax parity in budget; Meesho faces seller revolt over returns policy
Internet industry body IndiaTech, which represents a clutch of startups and VC investors, also said that the longer holding period for unlisted securities to be considered long-term assets means angel investors have to pay up to four times more tax if they sell a stake in an unlisted company after holding it for 18 months.
Delhivery CEO says ‘no conflict’ between growth, profits, Mensa spreads its wings
Delhivery said on Monday that its revenue in the March quarter more than doubled from last year to Rs 2,071 crore, while net profit remained flat at Rs 119.8 crore
Udaan to go public by May 2023, announces new Esop plans
Udaan also announced that it will issue employee stock options (Esop) to every employee and made a key change in its policy under which they can now vest stocks every quarter, instead of waiting for a minimum of one year.
To rope in the best, startups promise no downsizing, unlimited leave and more
Indian startups including the likes of Meesho, PhonePe, Upgrad, Purplle, Pristyn Care and Spinny are going all out to rope in the talent in demand.
Startup biggies to double down on CXO hiring
According to data shared by Xpheno, a specialist staffing firm, 100 to 120 CXOs are likely to be hired by these 130 unicorns and soonicorns against 50 in 2021.
How Budget 2022 can supercharge startups & small businesses? Meesho’s Vidit Aatrey explains
“In the offline world, if one does not have GST, one is allowed to sell, but not in the online world. I really feel that this is one of the biggest blocks stopping small businesses from really going online and becoming successful.”
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.”
Adani buys minority stake in Cleartrip; the Meta transformation of Facebook
As the travel and hospitality industry is witnessing a post-pandemic revival, the Adani Group today announced that it is acquiring a significant minority stake in Flipkart-owned online travel aggregator Cleartrip.
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.
Startups have an Esops fable to tell
As valuations zoom and buybacks rise, more employees opt for stock options
Amazon, Flipkart… Meesho?
Meesho CEO Vidit Aatrey believes there are structural problems in Indian e-commerce as even today, fewer than a million small businesses are selling online.
Startups play Santa early for employees with a flurry of Esop buybacks
Employees — in some cases hit by pay cuts — got cash, and employers, a happy workplace as well as a retention tool in a job market that’s just revving up.
Swiggy and Meesho offer their staff new Esops buyback option
Several companies including Flipkart, Urban Company, Unacademy, Moglix, Oyo, and Razorpay have gone in for stock buybacks in the recent past.
Meesho undertakes ESOP buyback worth $5 mn
The total worth of the latest ESOP re-purchasing programme is expected to be approximately USD 5 million, it added.
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