Social commerce platform Meesho has introduced an annual “MeeSOP” programme, which will allow all full-time employees, irrespective of their tenure in the company or their seniority, to be able to convert a maximum of 25% of their annual CTC into ESOPs, subject to a minimum of Rs 50,000.
ESOPs thus granted, would be greater than 100 percent of the CTC relinquished, said the press statement.
Last month, the company announced a $5.5M employee stock ownership plan (ESOP) liquidity program for all the eligible employees after its second buyback worth about $5 million (about Rs 37 crore) in 2020.
Vidit Aatrey, Founder & CEO, Meesho said, “Our repeated and periodic buybacks ensure our employees continue to grow with us. The MeeSOP program takes this commitment further, breaking hierarchies to make every employee an owner, and providing more avenues for wealth creation and tax savings. As we hire more talent, we will continue to provide our team with the means to realize their personal and financial goals with us.”
The company in its press statement said that the company’s valuation soared to $4.9 billion after its last funding round. The company now aims to reach 100 million transacting users by December 2022.
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