Meesho Rolls Out It's Largest ESOP Buyback Programme, Worth Rs 200 Crore
Meesho has announced its fourth employee stock option plan (ESOP) buyback worth Rs 200 crore, which is their largest buyback plan till date.
“Excited to announce our 4th ESOP Buyback worth INR 200 Crore, our biggest ever. Open to all existing as well as former Meeshoites.” Vidit Aatrey, Founder & CEO of Meesho.
“This underscores our commitment to rewarding our teams, and we are pleased that despite prevailing macroeconomic conditions, we persist in providing opportunities for wealth creation and nurturing a culture of growth within Meesho,” he added.
On Wednesday, the company announced that the buyback programme would offer wealth-creation opportunities to approximately 1,700 existing and former employees. This marks Meesho's fourth Esop buyback, with each iteration increasing in size.
The company repurchased shares valued at $1 million in February 2020, $5 million in November 2020, and $5.5 million in October 2021, as per the statement.
In January, Meesho disclosed its plans to resume campus hiring and expand its workforce by recruiting more young professionals across various domains. Roles are available in technology and product development, analytics, monetisation, business operations, finance, growth strategies, consumer experience, and human resources.
