Meesho announces ESOP buyback worth $5.5mn

Social commerce platform Meesho has announced a $5.5M an employee stock ownership plan (ESOP) liquidity program for eligible employees. Last year, the organization executed its second buyback worth with regards to USD $5 million (about ₹37 crore).

Vidit Aatrey, organizer and CEO, Meesho, said, “We keep on seeing meteoric progress as a business as well as in our efforts to democratize internet commerce for everybody.

Our employees have been at the forefront of driving this momentum, and we need to offer them ample chances to celebrate and grow with us. As we enlist in all cases and scale our tech and product talent by 2.5X, ESOPs will give workers high ownership, while giving more opportunities for wealth creation.”

The organization in its press statement said that in the course of the most recent a half year, the organization has seen 2.8X development in month to month executing clients and a 2.5X ascent in monthly orders. The organization now aims to arrive at 100 million transacting users by December 2022.