Flipkart Completed Buyback Share Programme Worth $100M, With 3,000 Participants
Indian online e-commerce giant Flipkart has recently completed its $100 million re-purchase of employee stock options (ESOPs), marking it the largest share buyback programme in Indian startup history, a financial daily reported.
In a release on Wednesday, Flipkart said that over 3,000 existing and former employees of Flipkart, PhonePe, Myntra, and Jabong had participated in this programme, Mint reported.
“Employees are our biggest source of strength, without whom Flipkart couldn’t have built the e-commerce industry in India. As an organisation, we believe they should be equal partners in Flipkart’s success. This ESOP repurchase programme is an extension of that culture, and a token of thanks for the dedication and hard work they have put in over the years. We’re delighted to be setti...