food delivery platform Swiggy said today it would allow employees to cash in stock options Priced at $35-40 million over the next two years – July 2022 and 2023.

Swiggy’s $5.5 billion valuation f. The program is valued at $35-40 million
Following its $1.25 billion funding round in JulyAccording to industry sources. All employees holding stock options will be eligible to participate. The value of stock options will increase along with the valuation of the company.

ET reported on 28 September that the company was
finalizing a new financing round of approximately $500-600 million, likely to be headed by a US asset manager invesco At a valuation of $10 billion.

Girish Menon, Head of Human Resources at Swiggy said, “As Swiggy grows, we want our team to grow with us and reap the fruits of their hard work and valuable contributions. This is an industry-first initiative whereby we are democratizing wealth creation by enabling all employees to participate in liquidity programs with stock options. More importantly, by giving them visibility liquidity program, [we are giving them] Flexibility to plan their cash flow and investments.

swiggy was
I did my first share buyback in June 2018. Its second was in November 2020
commission through secondary sales. The value of that buyback was estimated to be in the range of $7-9 million.

The company said that its food delivery business had surpassed pre-Covid levels and was witnessing strong growth in non-food businesses. “Swiggy and its Board have decided to set up a one-of-a-kind program to enable continuous wealth creation for employees through two separate liquidity events over the next two years,” it said.