To take on the likes of Amazon and Flipkart In India’s ecommerce market.
NS social commerce platform, which
Recently raised $570 million In a funding round led by Fidelity Management and B Capital Group, it repurchased $6 million worth of employee stock ownership plans in the previous two rounds – $1 million more in February 2020
$5 million in November 2020 – with
participation across the board. Separately, Google is in talks to invest in Meesho at a valuation of $4.9 billion, ETtech said.
informed of on 22 October.
“We are seeing meteoric progress in our efforts to democratize internet commerce not only as a business but also for all,” Vidit Atre, founder and CEO of Meesho, said in a statement on Friday. “As we hire across the board and grow our technology and product talent by 2.5X, ESOPs will provide employees with higher ownership, while providing greater opportunities for wealth creation.”
Meesho is one of the many consumer internet startups that have recently launched ESOP Buyback $545.8 million in total. These firms include Swiggy, Zomato, Unacademy, Razorpay, Moglix, Zetwerks, Zerodha, PhonePe, Udaan, Cred, Paytm, Acko and Licious.
Industry stakeholders had earlier told ET that a plethora of ESOP buyback programs ask employees to join the pool even if the cash in hand is short.
Read also:
Startups Have an ESOPs Fable to Tell