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Meesho announces its largest ESOP buyback worth Rs 200 Cr

EntrackrEntrackr · 1y ago
Meesho announces its largest ESOP buyback worth Rs 200 Cr
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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XYXX announces ESOP buyback program

EntrackrEntrackr · 1y ago
XYXX announces ESOP buyback program
Medial

Men-focused premium innerwear and lifestyle brand XYXX has announced its first Employee Stock Ownership Plan (ESOP) buyback. XYXX’s ESOP programme was introduced 4 years ago, and employees who have completed their tenure are eligible for the buyback. According to the firm, the eligible employees are allowed to liquidate at a 6X premium on the allotted price with zero strike price. XYXX’s ESOP buyback programme currently includes employees spanning from senior managers to heads of departments as well as executive leadership. The buyback comes within a year of XYXX’s $13.5 million Series C round led by Amazon Smbhav Venture Fund. XYXX claims to have pan-India presence with over 22,000 touchpoints through top Multi Brand Outlets (MBOs), a strong modern trade presence with Shoppers Stop, and Reliance Trends, amongst others as well as Exclusive Brand Outlets (EBOs) in multiple key cities. Its products are available on website (xyxxcrew.com) and available on e-commerce marketplaces including Amazon, Flipkart, Myntra and Ajio. On Monday, 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 · 1m ago
Flipkart announces new ESOP liquidity worth $50 Mn
Medial

Flipkart announces new ESOP liquidity worth $50 Mn This announcement follows Flipkart’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 company’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 Flipkart’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 company’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.

Leverage Edu announces second ESOP buyback

EntrackrEntrackr · 1y ago
Leverage Edu announces second ESOP buyback
Medial

Leverage.biz, which runs study abroad platform Leverage Edu, Fly.Finance and Fly Homes, today announced that it has completed its second ESOP buyback exercise. Over 50 employees of the company across functions were able to benefit from this exercise. However, the company did not disclose the amount of the stock buyback. Seven-year-old Leverage Edu provides full-stack services including counseling, application-admission support, and financing to students pursuing international education. It assists students from India, Nigeria and Nepal, among others. The company raised $40 million a mix of debt and equity led by Educational Testing Service (ETS) in July last year. It has raised around $70 million across rounds and was last valued at around $140 million. As per startup data intelligence platform TheKredible, Blume Ventures is the largest external stakeholder in Leverage Edu with 16.9% followed by Tomorrow Capital and DSG Consumers Partners. The company’s revenue from operations spiked 228% to Rs 69 crore in FY23 from Rs 21 crore in FY22 while its losses jumped 70% to Rs 103 crore in FY23 from Rs 47 crore in the previous year. 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, Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, and Pocket FM also completed their ESOP buyback scheme.

Meesho appoints three independent directors

EntrackrEntrackr · 1y ago
Meesho appoints three independent directors
Medial

E-commerce firm Meesho has appointed Jubilant Bhartia Group founder Hari S Bhartia along with three other seasoned business leaders as independent directors. Along with Bhartia, Meesho has onboarded former JP Morgan Chairman Kalpana Morparia and PhonePe non-executive Chairman Rohit Bhagat to its board of independent directors. Bhartia is also the co-chairman of Jubilant Ingrevia Ltd and Jubilant FoodWorks Ltd, the master franchisee of Domino’s Pizza and Dunkin’ Donuts restaurants in India. Before serving JP Morgan, Morparia was at ICICI Bank. In May, Meesho appointed Surojit Chatterjee as an independent director to its board. The development comes at a time when Meesho is in the process of moving its domicile to India from the US. Meesho recently announced 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.

Agritech startup DeHaat completes its first ESOP buyback

EntrackrEntrackr · 1y ago
Agritech startup DeHaat completes its first ESOP buyback
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.

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

EntrackrEntrackr · 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.

Meesho co-founders exercise 27 lakh options ahead of IPO

EntrackrEntrackr · 4m ago
Meesho co-founders exercise 27 lakh options ahead of IPO
Medial

Exclusive: Meesho co-founders exercise 27 lakh options ahead of IPO Meesho’s co-founders, Vidit Aatrey and Sanjeev Kumar, have exercised equity shares under the company’s 2024 ESOP plan—a move that comes as Meesho gears up for its Initial Public Offering (IPO). The board at Meesho has passed a resolution to allot 20,65,211 equity shares to Vidit Aatrey and 6,59,323 equity shares to Sanjeev Kumar following the exercise of stock options, according to regulatory filings accessed from the Registrar of Companies (RoC). Entrackr estimates that the exercised shares from the 2024 ESOP plan are valued at approximately Rs 1,023 crore ($120 million). However, Meesho clarified in a statement that these shares are not additional but part of the previously allocated ESOP pool. “Further, the valuation referenced in your email is incorrect, as these shares do not carry any additional value; they are simply existing ESOPs that the Founders have chosen to exercise,” the company’s spokesperson said. Meesho is planning to go public this year and aims to raise $1 billion through its IPO. Media reports indicate that the company will soon file its draft documents and is targeting a listing around Diwali. In 2024, Meesho announced its largest-ever ESOP buyback program, worth Rs 200 crore (approximately $25 million). This initiative is set to benefit around 1,700 past and present employees, spanning from junior executives to senior leadership. Meesho is the third largest horizontal e-commerce company after Flipkart and Amazon. The Bengaluru-based platform targets value-conscious consumers across tier II and III cities. It also operates logistics platform Valmo which currently handles over 50% of its overall orders. The firm recorded a 33% year-on-year revenue growth to Rs 7,615 crore in the fiscal year ending March 2024, while reducing its adjusted losses by 97% to Rs 53 crore during the same period. Notably, in the first nine months of FY25, the company claims to have delivered 1.3 billion orders.

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