Experiential Etc Announces ESOPs Worth $500,000
The five-year-old startup ExperientialEtc has declared employee stock options (ESOPs) worth $500,000 for its employees. The share will be distributed free of cost with a three-year vesting period in recognition of the employees who have performed well throughout the year in order to keep up the pace and momentum of the company’s growth and development. With this current allotment, about 20 per cent of the Company’s full-time employees, out of 50, have been granted ESOPs worth $500K. The total fund for the current fiscal is around $6,27,911.
The valuation of ExperientialEtc has risen up to 22 million in the last months, Following the first round of funding, the Company went into a hiring overdrive and now has been awarded ESOPS. ExperientialEtc is a digital advertising company that uses the latest technology such as holograms, games technology, augmented reality (AR), mixed reality etc. The company has offered its service to over 200 brands like KPMG, Tata Motors, SonyPix etc. with creative visual solutions employing blockchain technology, gaming, VR, and Metaverse application.
CEO, ExperientialEtc, Karan Bhardwaj said “happy to make our employees partners in our journey. The ESOP fund will motivate our employees to deliver on our strategic road map “Vision 2025” – achieving revenue of $1,88,37,960 (about Rs 150 crore)”. The five year old startup has also pitched to Shark tank, but due to low equity valuation, they did not succeed to get the deal done.
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