Thursday, March 28

Tag: Paytm payments back

Valued at $10B, Paytm’s 200 Employees Become Millionaires
BUSINESS

Valued at $10B, Paytm’s 200 Employees Become Millionaires

One97 Communication owned, payments and gateway company Paytm is now valued at $10 billion. As a result, the existing and former Paytm employees have been able to liquidate their vested ESOPS (employee stock ownership plan) by selling them to new investors including undisclosed family offices. Over 200 employees of the company liquidated their shares for Rs 300 crore. Earlier the company was valued at $7 billion when it raised $1.4 billion from SoftBank Group. This valuation has made Paytm, the second most valued startup after Flipkart, which is valued somewhere close to $12 billion. A similar sale round occurred early last year where a 100-crore employee liquidity event took place. Till now around 200 Paytm former and existing employees have been able to sell shares for Rs 500 c...