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Dezerv completes Rs 46 Cr ESOP buyback
YourStory
·
4m ago
Medial
Wealth-tech startup Dezerv has completed a Rs 46 crore ESOP buyback programme, benefiting eligible employees. Although it provided liquidity opportunities, many employees chose to retain their stake. Co-founded in 2021 by former IIFL Wealth partners, Dezerv offers investment solutions to affluent Indians and recently surpassed Rs 10,000 crore in assets under management. The company employs 300 professionals, assisting high-net-worth individuals across five Indian cities with wealth management services.
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Agritech startup DeHaat completes its first ESOP buyback
Entrackr
·
1y ago
Medial
Full stack agritech platform DeHaat has completed an employee stock ownership plan (ESOP) buyback program worth Rs 10 crore ($1.2 million). This is the first ever ESOP buyback for the Patna and Gurugram-based company. “The buyback saw 153 team members spread across senior vice president rank to field teams got the opportunity of wealth creation,” said Rishu Garg, who heads the people function at DeHaat. To date, DeHaat has issued ESOPs worth over Rs 100 crore ($12 million) to more than 200 individuals. DeHaat is a marketplace for the agricultural sector which offers distribution of high-quality agrarian inputs, advisory, lending, and market linkages for selling their produce. The company recently roped in Bollywood actor Pankaj Tripathi as its brand endorser and onboarded agri industry veteran Dr. K V Subbarao as its first Independent Advisor. DeHaat’s gross revenue grew 54.2% to Rs 1,965 crore in FY23 from Rs 1,274 crore in FY22. The company said that its revenue from operations increased 40% to Rs 2,700 crore while losses was reduced by 50% in FY24. The firm aims to achieve full year profitability during FY25. Dehaat has raised around $230 million to date and was valued at over $705 million according to startup data intelligence platform TheKredible. Last week, study abroad platform Leverage Edu announced its second ESOP buyback program. In the ongoing calendar year, Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, and Pocket FM also completed their ESOP buyback scheme.
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Darwinbox completes Rs 86-crore Esop buyback from 350 employees
Economic Times
·
1m ago
Medial
Darwinbox, a SaaS unicorn specializing in HR services, completed an Rs 86-crore ESOP buyback from 350 employees, marking its largest such initiative. This is the company's third ESOP buyback in four years. The move reflects Darwinbox's commitment to employee wealth creation as the firm continues to grow. Darwinbox aims for over 50% revenue growth in FY25, building on a 58% rise in FY24 revenue, driven by international expansion and enhanced R&D efforts.
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NowPurchase completes maiden ESOP buyback
Entrackr
·
8m ago
Medial
NowPurchase, a SaaS-enabled marketplace for metal manufacturers, has completed its first-ever Employee Stock Option Plan (ESOP) buyback.
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Pocket FM completes its first ESOP buyback worth $8.3 Mn
Entrackr
·
1y ago
Medial
Audio series platform Pocket FM announced that the company has completed its first ESOP buyback worth $8.3 million. The buyback of stock comes soon after $103 million Series D funding announced by the Bengaluru-based company. Former and existing employees, holding vested stocks in the company, participated in this process, the company said in a press release. The company was valued at $750 million during the latest fundraise and has been growing at a high speed. According to PocketFM, it surpassed $150 million (Rs 1,250 crore) ARR, and is growing at 57% QoQ. In 2023, it processed over 20 million transactions and claimed that its US revenue crossed $100 million in average revenue run rate (ARR) during the last calendar year. The buyback has come at a time when Pocket FM is reportedly in late-stage conversation to raise a new round which would catapult it to the unicorn club. Pocket FM is the fourth growth stage company that has announced stock buyback in 2024. Recently, e-commerce company Meesho rolled out its largest ESOP buyback worth $25 million for 1,700 employees (past and current). Community management app MyGate and edtech company Classplus also announced their employee stock buyback program earlier this year. 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. Pocket FM claims 2,000 exclusive audio series and more than 400,000 episodes across genres and languages. While the company’s real financial picture could be decoded when it discloses full-fledged FY24 results, Pocket FM’s revenue zoomed 8X to Rs 148.7 crore in the fiscal year ending March 2023. The firm also improved unit economics and reduced its losses by about three-fourths in the last fiscal year.
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HealthKart raises $153 Mn, completes first ever ESOP buyback
Entrackr
·
8m ago
Medial
Omnichannel nutrition platform HealthKart has raised $153 million led by ChrysCapital and Motilal Oswal Alternates. Existing investor A91 Partners along with Neo Group also participated in the new round. HealthKart owns and operates several nutrition brands including MuscleBlaze, HKVitals and Gritzo. Apart from online presence, the firm has over 200 retail stores across 90 cities. In December 2022, HealthKart raised $135 million led by Temasek with participation from A91 Partners and Kae Capital. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised around $360 million to date. As per the company’s press release, it crossed 1,000 crore in revenue threshold in FY24, and also achieved full year EBITDA profitability during the said fiscal year. While the firm has yet to file the audited numbers officially, it recorded Rs 832 crore revenue in FY23 with a loss of Rs 76 crore. HealthKart spun off its generic drug search business, HealthKartPlus, in 2015 and rebranded it as 1mg, which now operates under Tata 1mg Technologies Private Limited. Along with the funding, HealthKart has also announced its first ever employee ESOP buyback plan worth Rs 55 crore ($6.5 million). The buyback will benefit both current as well as former employees. According to TheKredible’s data, more than 20 startups have implemented ESOP buyback, liquidity, and payout programs worth around $200 million in the ongoing calendar year (2024).
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DeHaat Completes First ESOP Buyback Worth INR 10 Cr, Eyes Full Year Profitability In FY25
Inc42
·
1y ago
Medial
Agri-tech startup DeHaat recently conducted its first employee stock ownership plan (ESOP) buyback, benefiting 153 team members, including senior vice presidents and field teams. The company has issued ESOPs worth over INR 100 crore to more than 200 individuals. Additionally, DeHaat reported a 40% year-on-year increase in its revenue from operations, totaling INR 2,700 crore in FY24, while also narrowing its losses by 50% YoY.
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EV-focused startup Log9 Materials announces ESOP buyback worth Rs 1.5 crore
IndianStartupNews
·
1y ago
Medial
Log9 Materials, an EV-focused startup in battery technology, has announced its annual ESOP buyback valued at Rs. 1.5 crore. This buyback will benefit 17 employees who have been instrumental in the company's success. Log9 Materials previously had a successful ESOP buyback of nearly Rs. 1 crore. The company plans to continue this practice in the future and has recently secured $40 million in Series B funding. Log9 Materials specializes in fast-charging batteries that offer higher performance and safety.
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AppsForBharat announces first ESOP buyback worth Rs 2.1 Cr
YourStory
·
9m ago
Medial
Devotional platform Sri Mandir's parent company, AppsForBharat, has announced its first Employee Stock Option Plan (ESOP) buyback worth Rs 2.1 crore. The buyback will allow 25 employees to cash out a portion of their vested stock options. The initiative, facilitated through a partnership with Infinyte Club, aims to reward and acknowledge the contributions of long-term team members. AppsForBharat recently raised $18 million in Series B funding for the expansion of Sri Mandir's operations and the development of new temples and services.
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Meesho announces its largest ESOP buyback worth Rs 200 Cr
Entrackr
·
1y ago
Medial
Meesho has announced the initiation of an employee stock ownership plan (ESOP) buyback program of Rs 200 crore (approximately $25 million), making it the company’s largest ESOP buyback pool to date. This marks the fourth buyback at the horizontal e-commerce unicorn. The company bought back shares worth $1 million in February 2020, $5 million in November 2020 and $5.5 million in October 2021. The new buyback will benefit around 1,700 past as well as present employees across junior-level executives to senior leadership. Meesho provides small businesses, which includes SMBs, MSMEs and individual entrepreneurs, access to millions of customers, selection from over 30 categories, pan-India logistics, payment services and customer support capabilities. The Vidit Aatrey-led company recently announced the launch of Valmo, a full fledged logistics marketplace that allows the network of micro-entrepreneurs to become Meesho logistics partners. In July 2023, Meesho claimed that it was the first horizontal Indian e-commerce company to turn profitable. Since announcing profitability in July 2023, the company continues to remain profitable and cash flow positive. The company also cut its losses in FY23 by 48% but its revenue spiked 77% year-on-year to Rs 5,735 crore in the last fiscal year. Recently, community management app MyGate rolled out employee stock buyback program for more than 50 employees. 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.
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Dezerv reports Rs 26 Cr revenue and Rs 75 Cr loss in FY24
Entrackr
·
8m ago
Medial
Dezerv, a company backed by Premji Invest, reported a revenue of Rs 26.25 crore and a loss of Rs 74.53 crore for the fiscal year ending March 2024. The revenue grew by 160% compared to the previous year, while losses increased by 95.1%. The total income for the year was Rs 26.33 crore, with significant expenses in employee costs (Rs 63.34 crore), marketing (Rs 18.48 crore), legal (Rs 4.13 crore), and miscellaneous expenses (Rs 14.89 crore), totaling Rs 100.84 crore. The company’s ROCE was -64.9% and EBITDA margin was -267.45%. Dezerv had cash and bank balances of Rs 100 crore and current assets worth Rs 122 crore. In FY23, the company had a revenue of Rs 10.22 crore and a loss of Rs 38.20 crore. The company raised $60 million in funding, with investors including Premji Invest, Elevation Capital, Matrix, and Accel. Dezerv targets high net-worth individuals (HNIs) with an investment threshold ranging from Rs 15 lakhs to several crore rupees, focusing on portfolio management services for working professionals.
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