ShareChat sets aside 3.5% stocks for its employees
ShareChat has also successfully concluded a $49 million funding round from prominent investors including Lightspeed and Temasek
In a move to reward and retain its workforce, Indian social media giant ShareChat has earmarked 3.5% of its company stocks for its employees under Employee Stock Ownership Plans (ESOPs).
Ankush Sachdeva, the Co-founder and CEO of ShareChat and Moj, took to LinkedIn to make the announcement.
This move not only serves as a token of appreciation but also aligns the interests of the employees with that of the company, fostering a culture of shared success and commitment, Sachdeva said.
"Our team has been the driving force behind our significant progress so far. In appreciation of their incredible contributions and to encourage sustained momentum, we are thrilled to announce a one-time bonus for all our employees. This bonus effectively doubles their total ownership of the company. To facilitate this, we have allocated an ESOP pool that represents 3.5% of our cap table for these bonus grants,” Sachdeva said in a LinkedIn post on Monday.
Sachdeva also revealed the successful closure of a $49 million funding round from prominent investors including Lightspeed and Temasek. This influx of capital further solidifies ShareChat's position in the competitive social media landscape, fueling its ambitious growth plans and innovation endeavours.
