Meesho, an web commerce platform introduced a $5.5M ESOP liquidity program for all eligible present and former workers 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 & 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 by >2x to $4.9 billion.
Vidit Aatrey, Founder & CEO, Meesho spoke on the announcement, mentioned “We proceed to see meteoric progress not solely as a enterprise but in addition in our efforts to democratize web commerce for everybody. Our workers have been on the forefront of driving this momentum, and we wish to give them ample alternatives to have a good time and develop with us. As we rent throughout the board and scale our tech and product expertise by 2.5X, ESOPs will give workers excessive possession, whereas offering extra alternatives for wealth creation.”
Over the past six months, the corporate has seen 2.8X development 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, improve its roster to over 50 million merchandise, and intends to go deeper into India’s underserved markets, changing into the popular e-commerce vacation spot for the following billion customers within the nation.