mobile and app testing platform browserstack has bought back employee stock ownership plans (ESOP) of $50 million (approximately Rs 365 crore), as part of its ongoing effort to support employees in his wealth creation journey.

This is the second such exercise this year for the San Francisco- and Mumbai-based company, which started in June.
Received $200 million at a valuation of $4 billion, led by Bond Capital and Insight Partners.

Browserstack said Tuesday that more than 100 of its employees participated in buy back work out.

Co-founder and CEO Ritesh Arora said, “The exponential growth seen by BrowserStack has been made possible because of the perseverance and dedication of our people. “We grow when our people grow, and we want to thank them for playing a vital role in the success of the company.”

The company has doubled its workforce to 800 in the last two years.

BrowserStack’s eventual plan is to go for an initial public offering (IPO), but for now it aims to become the world’s largest testing platform with 50% market share.

browserstack was
One of the contenders in the Startup of the Year category At the Economic Times Startup Awards 2021.

Software as a Service of India (mother-in-law) The sector has attracted the attention of global investors with its ‘Build in India for the world’ model, which has been recognized as highly cost-effective and scalable.

This has caused investors to capitalize on heavy valuations in the sector, which experts say are in line with global SaaS firms.

Last week, Indian mother-in-law’s poster child
Freshworks debuts on the Nasdaq stock exchange With a blockbuster IPO in which it raised more than $1 billion at a valuation of $10 billion.

Freshworks cofounder and CEO Girish Mathrubootham told ET that more than 76 per cent of its employees hold stock in the company, of which 500 have become millionaires, of whom 70 are under the age of 30.