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Meesho Buys Back ESOP Worth $5 Million

Meesho Buys Back ESOP Worth $5 Million

Meesho, a social commerce platform, has announced to buy back Employee Stock Ownership Plan (ESOP) worth around USD 5 million (about Rs 37 crore). This is the second time that the company is implementing a buyback from its employees who can sell up to 100 per cent of their ESOP shares, according to a report.

 

From juniormost to senior employees will take part in the exercise.

 

The report further quoted Meesho founder and CEO Vidit Aatrey, “We at Meesho believe our employees to be our assets. The journey for everyone at a young company like ours has been interesting, especially by the sheer rate at which we have grown in scale and speed.”

 

The company, based in Bengaluru stated that social commerce is a strong force which can take e-commerce to the next billion customers. “In the ‘new normal’, Indian hinterlands will witness a shift in the consumer market. This will be instrumental in reshaping the future of retail and consumer industry,” the report added.

 

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