At least 25,000 current and former employees of Walmart-owned e-commerce major Flipkart will likely benefit from its $700 million one-time cash payout, making it one of the largest instances of wealth creation in India’s thriving startup space.
Flipkart’s bonanza comes at a time when most startup employees have had a tumultuous 2022, as the heydays of funding and fat pay hikes gave way to sobriety and a reality check, as investors turned cautious. This will undoubtedly include former and current employees of Flipkart, Myntra, and PhonePe, according to the sources cited above. Flipkart announced last week a one-time discretionary cash payout of up to $700 million to nearly 25,000 former and current employees who hold employee stock options.
