Monday, July 15, 2024

Meesho Launches its Largest ESOP Buyback Program Worth ₹200 Cr

Share post:

Meesho has announced its largest ever Employee Stock Ownership Plan (ESOP) buyback program, valued at Rs 200 crore (about $25 million). This is the fourth buyback by the e-commerce giant, with previous ones totaling $11.5 million. The latest initiative will benefit around 1,700 current and former employees, from junior executives to top management.

Meesho is a platform that helps small businesses, including SMBs, MSMEs, and individual entrepreneurs, connect with millions of customers. They offer a wide range of products across 30 categories, along with pan-India logistics, payment services, and customer support.

In addition to this, Meesho recently launched Valmo, a comprehensive logistics marketplace that enables micro-entrepreneurs to join as logistics partners.

Meesho Launches its Largest ESOP Buyback Program

Meesho achieved profitability in July 2023, becoming the first horizontal Indian e-commerce company to do so. Since then, they have remained profitable and cash flow positive. In FY23, they reduced their losses by 48%, while revenue surged by 77% year-on-year to reach Rs 5,735 crore.

Overall, Meesho ESOP buyback program reflects its commitment to rewarding employees and supporting small businesses, while also showcasing its growth and success in the e-commerce market.

Related articles

Will India’s Digital Payments Really Double by 2030? New Report Says Yes!

A new study by Kearney and Amazon Pay predicts that India's retail digital payments will double to USD...

Razorpay: Curious About Its Growth? Here’s How They Simplifying Payments

Razorpay has emerged as a leader in the growing world of fintech, offering innovative payment solutions that simplify...

From WhatsApp to Instagram: How Meesho is Driving Social Commerce

Meesho has carved out a unique niche by empowering small entrepreneurs and resellers to start and grow their...

Paytm Allots 2.8 Lakh ESOP Shares to Employees

Paytm, led by Vijay Shekhar Sharma, a prominent fintech company, has approved the allotment of 2.8 lakh Employee...