Cashify announced its first ESOP buyback plan worth $1 mn with the aim to recruit new talent and retaining existing ones. Employees, under the scheme, can sell up to 35% of their ESOPs in the company. “ We believe that this will help unlock value, and create wealth for our high-performing talent,” said Mandeep Manocha, Founder, and CEO. of Cashify in a statement. Cashify, it is worth a mention, raised $15 mn in a recent financing round.
Unacademy will buyback ESOPs worth Rs 25-30 cr. According to the company statement, employees can sell their ESOPs up to Rs 10 lakhs. Unacademy, with this ESOP buyback plan, has become the seventh startup in the ecosystem to go for ESOP buyback after Zerodha, FirstCry, BharatPe, Urban Company, MPL and Meesho in 2020. The buyback will take place on 10th Dec, where employees can participate and sell 25% to 100% of their ESOPs to the company.
ShareChat announced an additional $14M ESOP pool to reward its employees for their hard work and dedication towards the company. With this addition, its total ESOP pool stands at $35M. The company also announced additional 50% ESOPs as bonus for the existing employees, who were on the firm’s payroll on June 30, 2020. Also, ESOPs have been extended to every employee on payroll including administrative staff who were not holding any ESOPs earlier.