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Meesho, a social e-commerce platform operated by Fashnear Technologies, has introduced its third employee stock ownership plan (Esop) this year with an annual MeeSOP programme for all its employees.
“Under the programme, every full-time employee, irrespective of their tenure in the company or their seniority, will be able to convert a maximum of 25% of their annual cost-to-company (CTC) into Esops, subject to a minimum of ₹50,000. Esops thus granted, would be greater than 100% of the CTC relinquished," Meesho said.
This announcement by Meesho follows October’s $5.5 million Esop programme to buy back the vested stocks from eligible current and former employees. In September, it raised $550 million with its valuation soaring more than 2x to $4.9 billion in a Series F funding round.
“Our repeated and periodic buybacks ensure that our employees continue to grow with us. MeeSOP takes this commitment further, breaking hierarchies to make every employee an owner, and providing more avenues for wealth creation and tax savings. As we hire more talent, we will continue to provide our team with the means to realize their personal and financial goals with us," said Vidit Aatrey, founder and chief executive, Meesho.
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