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Meesho broadcasts ESOP liquidity program

Social commerce platform Meesho has introduced an ESOP liquidity program value $5.5 million for all eligible present and former staff with vested shares.

That is the corporate’s second such liquidity program in lower than a 12 months. Final month, Meesho raised a $570 million Collection F from Constancy Administration and Analysis Firm, B Capital Group, and different new and current companions like Prosus Ventures, SoftBank Imaginative and prescient Fund 2 and Fb, rising its valuation to $4.9 billion.

Additionally see: India’s e-commerce industry expected to grow 84% by 2024: Report

Vidit Aatrey, Founder and CEO, Meesho, mentioned, “We proceed to see meteoric progress not solely as a enterprise but in addition in our efforts to democratise web commerce for everybody. Our staff have been on the forefront of this momentum and we need to give them ample alternatives to rejoice and develop with us. As we rent throughout the board and scale our tech and product expertise by 2.5X, ESOPs will give staff excessive possession whereas offering extra alternatives for wealth creation.”

Over the past six months, the corporate claims to have seen 2.8X progress in month-to-month transacting customers and a 2.5X rise in month-to-month orders. The corporate now goals to achieve 100 million transacting customers by December 2022, enhance its roster to over 50 million merchandise and go deeper into India’s underserved markets, turning into the popular e-commerce vacation spot for the subsequent billion customers within the nation.

Additionally see: Start-ups’ enhanced focus on employee-centric policies signal building long-term businesses

Meesho is a social commerce firm began with the imaginative and prescient to allow 100 million small companies, together with particular person entrepreneurs, to succeed on-line. The Meesho market gives small companies — SMBs, MSMEs and particular person entrepreneurs — entry to tens of millions of shoppers, choice from over 700 classes, pan-India logistics, cost providers and buyer assist capabilities to effectively run their companies on the Meesho ecosystem.

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