These Flipkart Employees Become Instant Millionaire After Walmart Deal
While most Indians reacted with contempt to the news of the acquisition deal of Bengaluru-based Flipkart by Arkansas-based retail giant Walmart, many Flipkart employees must be in the seventh of heavens right now.
Indeed, after the $16 billion acquisition for 77% stake, several employees are set to become millionaires from the deal as large payouts in the form of Employee Stock Option Plan (ESOP) since the company’s valuation raised from $15 billion to $20 billion.
Speaking before the acquisition deal was confirmed, a Flipkart employee said,
If this deal materializes, it will give a strong value to the concept of ESOPs, something that other startups may like to emulate. They will have the hope that even their companies will have an IPO or get big investors and give them a chance to ...