Swiggy Launches ESOP Program of $35-40 Million

Swiggy said its employees could offer shares they hold twice in the next two years to create transparency around employee stock option plans (ESOPs). Swiggy said all employees having ESOPs can participate in two liquidity events in 2022 and 2023, with the entire operation worth $35-40 million.

“As Swiggy grows, we also want our team to grow with us and enjoy the results of their hard work and contribution. This is the first initiative where we are democratising wealth creation by enabling all our ESOP holding employees to engage in our committed liquidity events in 2022 and 2023,” Girish Menon, Head of HR, Swiggy, told in a statement.

While the entire operation will be a valuation of $5.5 billion, employees will benefit from any possible value rise at the time of these liquidity events in the next two years. For years, ESOPs have been a source of income for startups due to a lack of exits.

Get Daily Prediction & Stocks Tips On Your Mobile

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More