Social commerce platform Meesho’s largest investor Naspers has bought ESOPs worth $1 million. Close to 20 early employees at Meesho have chosen to sell 30% of their vested equity. “Liquidity events like these shows to our employees as well as future prospectus that our stock options have real value,” said Sanjeev Barnwal, founder of Meesho.
The company currently has a strength of 820 employees.
“With a buyback this early in the stage of business, we want to recognize their efforts, reward them for their contribution,” he said.
Meesho grants ESOPs to employees based on performance, Barnwal said. These stocks allocated by Meesho are vested over four years. In August last year, the company raised $125 million led by South African media and internet group Naspers.
Published in Economic Times on February 14 | Source: https://bit.ly/3hd0DmQ
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