ShareChat earmarks USD 19.1 mn for ESOP buyback

The company had recently raised over $500 million, taking its valuation to $2.1 billion. “Nearly 200 existing and former employees with vested options are eligible to participate in this process,” a statement said. 

ShareChat has also revised the existing vesting schedule. The new vesting policy will allow all the qualified employees to vest 25 per cent of ESOPs in the first year, followed by 8.25 per cent every quarter, it added. 

In case any employee leaves the organisation, the person gets to keep all the vested options and get the related benefits. Further, the company has revised its ESOP exercise price from Rs 1,551 to Re 1, bringing more benefits to the employees. “This exponential growth and success story wouldn’t have been possible without the relentless commitment of our people. With their immense passion and energy, we have seen the biggest growth trajectory in our history in the last few months,” ShareChat CEO-Cofounder Ankush Sachdeva said.