Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>About 200 existing and former employees will be eligible to participate in the ESOP buyback plan.</li><li><keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">ShareChat</keyword> has updated its ESOP exercise price, which will allow the employees to buy each share at ₹1.</li><li>The company entered the unicorn club in April 2021, after raising $500 million at a valuation of $2.1 billion.</li></ul>Mohalla Tech, the parent company of vernacular social media platform ShareChat and short video app Moj, has announced its first employee stock ownership plan (ESOP) buyback programme worth $19.1 million (₹140 crores at current prices). Nearly 200 existing and former employees with vested options will be eligible to participate in the process. The company also announced that it has revised its existing vesting schedule. Under this, qualified employees will be allowed to vest 25% of ESOPs in the first year, followed by 8.25% every quarter. In case any employee leaves the organisation, the individual can still keep all the vested options and continues to enjoy the related benefits. Further, it has revised its ESOP exercise price from ₹1551 to ₹1, meaning that eligible employees can buy each share at ₹1. The firm’s chief executive officer (CEO) and cofounder Ankush Sachdeva attributed the success of ShareChat and Moj to the employees that have been working in the company for years. “We are presently witnessing an exciting growth journey and following an ambitious plan. Therefore, we have aligned our ESOP policy accordingly to reward our people who will be instrumental in paving the way for the next level of growth,” he added. The announcement comes only two months after ShareChat raised<a href="https://www.businessinsider.in/business/startups/news/sharechat-is-2021-9th-unicorn-as-it-raises-over-500-million-from-tiger-global-snap-and-twitter/articleshow/81964106.cms"> $500 million</a> at a valuation of $2.1 billion. The Series E investment was led by Lightspeed Ventures and Tiger Global, along with the participation from Snap Inc, Twitter and India Quotient. Overall, the company has raised about $824.8 million since its inception in 2015. ShareChat has also acquired five businesses over the years. This includes Clip App, Elanic, Circles Internet, Memer and HPF Films. Four of these acquisitions were announced in 2020 to enhance the platform’s content offerings. The company seems to have witnessed an exponential growth in 2020, due to growing digital adoption during the pandemic and the ban on Chinese apps like TikTok. The company claims to have recorded a <a href="https://inc42.com/buzz/sharechats-monthly-user-base-reaches-160-mn-riding-on-tier-i-growth/">166% spike</a> in its monthly active users base during the pandemic from 60 million in March 2020 to 160 million in November 2020. Moj, Sharechat’s <a href="https://www.businessinsider.in/business/startups/news/sharechat-moj-will-air-exclusive-content-from-bigg-boss/articleshow/79425405.cms">youngest offering</a>, has garnered over 120 million monthly active users within a year of its launch. Like ShareChat, Moj is available in local languages like Hindi, Punjabi, Marathi, Bengali and more. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/grofers-cofounder-saurabh-kumar-exits-says-he-wants-to-wander-again/articleshow/83636943.cms">Grofers cofounder Saurabh Kumar exits, says he wants to ‘wander again’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-ipo-vijay-shekhar-sharma-may-not-remain-the-promoter/articleshow/83633743.cms">Paytm IPO: Vijay Shekhar Sharma may not remain the promoter of the company he founded 12 years ago</a>

Sharechat employees will make $19 million out of the latest ESOP plan, as growth spikes in the absence of TikTok

<ul><li><keyword id="3480589" type="PERSON" weightage="20" keywordseo="Meesho">Meesho</keyword> has rolled out an employee stock ownership plan (ESOP) buyback plan worth $5 million.</li><li>Through the ESOP buyback, Meesho’s employees from the junior level to the senior executive level will be able to vest 100% of their shares. </li><li>Meesho joins startups like Swiggy, Unacademy, Zerodha and Urban Company which have recently rolled out <keyword id="10250462" type="UNKNOWN" weightage="20" keywordseo="esop-buyback-plans">ESOP buyback plans</keyword>.</li></ul>Facebook-backed social e-commerce platform Meesho has rolled out an Employee Stock Ownership Plan (ESOP) buyback plan worth $5 million. This will be the second buyback plan the five-year old company is undertaking. Through the ESOP buyback, Meesho’s employees from the junior level to the senior executive level will be able to vest 100% of their shares. The share buyback plan comes at a time when the company claims that it is growing fast and now, has over 7 million entrepreneurs on its platform⁠— four times the pre-COVID level. “We at Meesho believe our employees to be our assets. The journey for everyone at a young company like ours has been interesting especially by the sheer rate at which we have grown in scale and speed. This venture is driven by a sense of entrepreneurship and responsible ownership on the part of each employee of the company, hence, with this second buyback we want to acknowledge their continued efforts and reward them for their contribution in building Meesho and thereby instill confidence in our existing and potential employees,” said Vidit Aatrey, Founder &amp; CEO, Meesho. Startups doling out benefits Employees in a startup when they join are offered certain shares in the company in the form of an Employee Stock Ownership Plan. While the actual benefits of it has been questioned by many, Indian startups are beginning to prove them wrong. Several startups have launched ESOP buyback plans including the likes of the $3.5 billion Swiggy which had offered an ESOP buyback plan for 40% of its employees who could sell their shares at three times the allotted price. “This program will see participation from the family offices of leading industrial houses in India and a few individuals who are stalwarts in their respective fields. Their interest to join the Swiggy investor community is a testament to their trust in the brand, our vision and growth potential,” said a Swiggy spokesperson. Recent startups which rolled out ESOP buyback plans <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swiggy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$7-9 million <a href="https://entrackr.com/2020/11/swiggy-to-reward-its-employees-with-esop-liquidity-program/">(reported value)</a> </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unacademy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Urban Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.7 million </td></tr></tbody></table> Meanwhile, many others like Sharechat and OYO had also expanded their ESOP pool. In September, Sharechat had announced that it had added $14 million to its ESOP (employee stock ownership plan) pool, taking the total to $35 million. Meanwhile, OYO had allotted ESOPs (employee stock ownership plan) worth ₹130 crore ($18 million) for its furloughed employees. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-will-be-probed-by-indias-competition-commission-for-allegedly-abusing-dominance-to-push-gpay/articleshow/79141895.cms">Google will be probed by India’s Competition Commission for allegedly ‘abusing dominance’ to push its payments app</a>

Facebook-backed Meesho is the latest to roll out an ESOP buyback plan worth $5 million

<ul><li>Employees who have completed over a year with the company will be eligible for this program.</li><li>In September this year, <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword> became a unicorn with a $1.45 billion valuation after the much-talked-about funding from SoftBank. </li><li>Unacademy’s <keyword id="10112424" type="UNKNOWN" weightage="20" keywordseo="esop-buyback">ESOP buyback</keyword> plan is taking place for the second time, the first time being in September 2019. </li></ul>India’s latest edtech unicorn Unacademy has announced ESOP (Employee Stock Ownership Plan) buyback for ₹25-30 crore. “All vested <keyword id="173739" type="PERSON" weightage="20" keywordseo="Esops">ESOPs</keyword> until December 10, 2020 will be eligible for the buyback and current and exited employees may liquidate between 25% to 100% of vested ESOPs based on a specified scheme,” said the company’s statement. Employees who have completed over a year with the company will be eligible for this program. Unacademy’s ESOP buyback plan is taking place for the second time, the first time being in September 2019. In September this year, the company achieved the prestigious unicorn status, with a $1.45 billion valuation after the much-talked-about funding from SoftBank. Unacademy had also raised funding from Facebook in February, the social media giant’s second direct investment in India. The startup is also backed by Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures, and individual investors Kalyan Krishnamurthy, CEO, Flipkart, and Sujeet Kumar, co-founder, Udaan. The five-year-old startup is also one of the official sponsors for the ongoing Indian Premier League. The startup is also one of the <keyword id="2989202" type="PERSON" weightage="20" keywordseo="edtech-startups">edtech startups</keyword> that benefited from the coronavirus lockdown and the subsequent shift to online learning. Unacademy has over 13 million learners on its platform. <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword> and their ESOP offerings Unacademy joins the long list of startups who have announced ESOP buybacks this year. In August, home services startup Urban Company, had announced its third ESOP (Employee Stock Ownership Plan) sale for $5 million. Zerodha announced that from the ESOP pool of ₹200 crore, employees would be permitted to sell 5-50% of the 33% of their shares that vest this year. In September, Sharechat had announced that it had added $14 million to its ESOP (employee stock ownership plan) pool, taking the total to $35 million. Meanwhile, OYO had allotted ESOPs (employee stock ownership plan) worth ₹130 crore ($18 million) for its furloughed employees. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/pnb-yes-bank-central-bank-of-india-idbi-and-six-more-indian-banks-are-the-worst-performing-bank-stocks-in-asia-pacific/articleshow/78679569.cms">10 out of 15 worst-performing bank stocks in Asia-Pacific are Indian — PNB, YES Bank, Central Bank of India, IDBI among them</a> <a href="https://www.businessinsider.in/business/news/now-paytm-mall-joins-amazon-flipkart-snapdeal-and-myntra-with-the-same-dates-for-its-sale-event/articleshow/78677121.cms">Now, Paytm Mall joins Amazon, Flipkart, Snapdeal, and Myntra with the same dates for its sale event</a>

You Searched For "sharechat buyback plan" and got 3 results

Sharechat employees will make $19 million out of the latest ESOP plan, as growth spikes in the absence of TikTok

Kritti Bhalla

Facebook-backed Meesho is the latest to roll out an ESOP buyback plan worth $5 million

Sanchita Dash

Unacademy announces ESOP buyback worth nearly ₹30 crore for its employees

Sanchita Dash

Popular Keywords

Buying Guides