25,000 former and current Flipkart group employees likely to benefit from $700 million cash payout

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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.

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25,000 former and current Flipkart group employees likely to benefit from $700 million cash payout

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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