Meesho announced a $5.5 million ESOPs repurchase

 01 November 2021, Mumbai:

Meesho, an internet commerce platform, has announced a $5.5 million ESOP liquidity programme for all vested current and past workers. In less than a year, the business has launched its second liquidity programme.

Meesho secured $570 million in Series F funding last month from Fidelity Management & Research Company, B Capital Group, and other new and current investors like Prosus Ventures, SoftBank Vision Fund 2, and Facebook, bringing its total valuation to $4.9 billion.

"We continue to witness stratospheric success not just as a business but also in our efforts to democratise online commerce for everyone," stated Vidit Aatrey, Founder & CEO of Meesho, in response to the announcement.

We want to provide abundant opportunities for our workers to celebrate and develop alongside us since they have been at the forefront of generating this momentum.

ESOPs will provide employees high ownership while creating greater potential for wealth creation as we hire across the board and grow our tech and product skills by 2.5X."

The firm has experienced a 2.8X increase in monthly transacting users and a 2.5X increase in monthly orders in the previous six months. By December 2022, the firm wants to achieve 100 million transacting customers, expand its product catalogue to over 50 million items, and expand into India's underserved markets, becoming the preferred e-commerce destination for the country's next billion consumers.

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