{"id":2874,"date":"2021-06-23T21:09:51","date_gmt":"2021-06-23T16:09:51","guid":{"rendered":"https:\/\/www.hrkatha.com\/?p=28638"},"modified":"2023-01-24T23:41:26","modified_gmt":"2023-01-24T18:11:26","slug":"flipkart-sharechat-to-buy-back-esops","status":"publish","type":"post","link":"https:\/\/www.postaresume.co.in\/blog\/hr-trends\/flipkart-sharechat-to-buy-back-esops","title":{"rendered":"Flipkart, ShareChat, to buy back ESOPs"},"content":{"rendered":"
\"Flipkart,<\/a><\/div>\n

Flipkart, the e-commerce company, is thinking of buying back employee stock options (ESOPs) worth almost $125 million, while it works on raising funds.
\nThis isn\u2019t the first time the Company will be repurchasing ESOPs. In 2019-20, Flipkart India had bought back over 48,000 employee stock options, while the year before that, it had bought back 1,87,974. It had granted 2,04,940 options during 2019-20, compared to 2,94,187 previously.<\/p>\n

Meanwhile, Mohalla Tech, the parent company of social-media platform, ShareChat ,and short video app Moj, announced its intention to buy back employee stocks worth $19.1 million. Only a few months ago, the Company had managed to raised $502 million at a valuation of $2.1 billion, entering the country\u2019s startup unicorn club. Almost 200 current and ex employees of the Bengaluru-based startup who hold vested options will be able to participate in this scheme.
\nAs per reports in the media, Walmart-owned Flipkart is in talks with investors to raise funds to the tune of about $3 billion, valuing the Company at $35 billion.<\/p>\n

About three years ago, when Walmart had acquired Flipkart, it had kept aside about $500 million to buy back ESOPs from the employees of Flipkart. As a result, some of the employees in its 15,000-strong workforce had come into a lot of money.<\/p>\n

According to the Times of India, Canada Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority (ADIA) and Japan\u2019s S SoftBank are considering becoming investors, putting in about $2 billion in the Group. Softbank may actually invest around $500 million.<\/p>\n

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