Flipkart to buyback ESOPs worth INR 600 Cr
The move comes after ecommerce giant received $3.6 Bn funding from global investors
Flipkart to provide an additional buyback of 5% of all vested options
Walmart-owned Flipkart has announced buyback of employee stock options (ESOPs) worth INR 600 Cr. The moves come at a time when the Bengaluru-based ecommerce giant raised funding worth $3.6 Bn from global investors including Softbank, which had earlier exited the firm. The investment pushed Flipkart’s valuation to $37.6 Bn.
Flipkart CEO Kalyan Krishnamurthy told employees, “Each of you has played a critical role in helping the company reach this milestone, and the entire management team at Flipkart and Myntra are grateful for your commitment and dedication. As many of you know, it has always been our endeavour to provide our employees with an opportunity to liquidate their vested options regularly. This year we are pleased to announce a buyback of 5% of the past three years’…
