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Pocket FM completes its first ESOP buyback worth $8.3 Mn

EntrackrEntrackr · 1y ago
Pocket FM completes its first ESOP buyback worth $8.3 Mn
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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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.

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.

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.

HealthKart raises $153 Mn, completes first ever ESOP buyback

EntrackrEntrackr · 8m ago
HealthKart raises $153 Mn, completes first ever ESOP buyback
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).

Flipkart announces new ESOP liquidity worth $50 Mn

EntrackrEntrackr · 15d 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.

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