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Even Healthcare launches first ESOP buyback worth $500K

EntrackrEntrackr Ā· 4m ago
Even Healthcare launches first ESOP buyback worth $500K
Medial

Even Healthcare launches first ESOP buyback worth $500K Managed care provider Even Healthcare announced its first-ever Employee Stock Ownership Plan (ESOP) buyback within three years, joining Indian startups using stock rewards to retain talent and boost employee wealth. Even announced a buyback worth $0.5 million for its employees at the primary valuation without any discount. According to the company, this ensures employees receive maximum earnings from their sale and do not face an ā€œESOP haircut.ā€ This buyback follows Even Healthcareā€™s $30 million Series A funding round in October last year. ā€œAt Even Healthcare, we believe in creating long-term financial opportunities for our employees. This buyback is a testament to our commitment to ensuring everyone who contributes to Evenā€™s growth benefits from it. We are proud to set a new benchmark in the industry and look forward to expanding our ESOP program further,ā€ said Matilde Giglio, co-founder of Even Healthcare. Founded in 2020 by Mayank Banerjee, Giglio, and Alessandro Ialongo, Even Healthcare offers its members free consultations, diagnostic tests, and cashless hospitalization through its in-house clinical team and insurance partners. According to the company, it only partners with hospitals that guarantee the care of its members in exchange for a recurring payment.

The Sleep Company rolls out second tranche of ESOP buyback for 105 employees

EntrackrEntrackr Ā· 1y ago
The Sleep Company rolls out second tranche of ESOP buyback for 105 employees
Medial

Comfort-tech brand The Sleep Company has announced the second tranche of ESOP (employee stock ownership plan) buyback for its employees. The current buyback will benefit a total of 105 employees, including 50% of women employees. After securing Rs 13.4 crore in pre-Series A, and Rs 177 crore in a Series B round led by Premji Invest and Fireside Ventures, the company recently secured Rs 184 crore in Series C Funding. The Sleep Company has rolled out the second tranche of the programme in just four years since its inception, which is set to benefit employees irrespective of their seniority. The company rolled out its first ESOP buyback programme in 2023 worth Rs 83.47 lakh. Founded by Priyanka and Harshil Salot, The Sleep Company offers premium products with technology rooted in developments in material science and sleep science. In June 2022, the platform marked its foray into offline retail with the launch of its first store in Bengaluru, to open over 150 stores by end of 2024. The firm claims to have achieved significant growth with its revenue growing 2.6 times over the last 12 months, reaching Rs 130 crore in sales in 2023. Through its omnichannel model, the company has over 70 stores across the country and is well on its way to opening 150 stores by the end of 2024. Last month, audio series platform Pocket FM announced its first ESOP buyback worth $8.3 million. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. In 2024, MyGate, Classplus and Meesho also completed their ESOP buyback scheme.

Flipkart announces new ESOP liquidity worth $50 Mn

EntrackrEntrackr Ā· 21d ago
Flipkart announces new ESOP liquidity worth $50 Mn
Medial

Flipkart announces new ESOP liquidity worth $50 Mn This announcement follows Flipkartā€™s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Flipkart has announced a fresh ESOP (Employee Stock Option Plan) liquidity opportunity for its employees, according to an internal note from the companyā€™s chief executive officer Kalyan Krishnamurthy. As per the note, eligible employees will be allowed to liquidate up to 5% of their vested ESOPs as of July 5, 2025, at a buyback price of $174.32 per option. Payouts will be made in August 2025 under the Flipkart Stock Option Plan 2012. An ET report estimates the size of the ESOP buyback at $50 million, with 7,000 to 7,500 employees expected to benefit from the liquidity program. Flipkart is currently valued at around $36 billion. Krishnamurthy also added that if key performance goals are met by the end of 2025, another 5% liquidity window could open in early 2026. A Flipkart spokesperson confirmed the development to Entrackr. This announcement follows Flipkartā€™s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Media reports indicate the firm plans to launch its IPO with a valuation of $60-$70 billion. The companyā€™s board has already approved the process to shift its holding structure from Singapore to India. In 2025, a clutch of startups including Darwinbox, Rapido, Univest, Deserve, and Even Healthcare have implemented ESOP buyback, liquidity, and payout programs worth around $67 million. In 2024, more than 20 startups implemented $200 million. According to startup data intelligence platform TheKredible, the ESOP buyback or liquidity amount stood at $802 million in 2023, $440 million in 2021, and $200 million in 2022.

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