Social commerce startup CityMall launched an Employee Stock Ownership Plan (ESOP) liquidity programme for over 50 employees. Eligible employees, including core team members and senior management, will be able to liquidate stock options worth up to $1.3 million under the programme.
CityMall is a new social commerce platform. It operates in a variety of industries, including grocery, FMCG, electronics, and fashion. It primarily serves Tier III and IV cities and towns in Haryana, Uttar Pradesh, and the Delhi NCR. According to CityMall, the ESOP buyback programme will aid in the development of a strong, fast-growing, and employee-centric startup. The ESOP liquidation is a way to recognise the efforts of early employees who joined CityMall in its early years and contributed significantly to its success.