Flipkart to buy back $50 million in employee stock; 7,500 staff may benefit

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Flipkart on Fridayannounced a $50 million employee stock buyback programme, which will provide liquidity to around 7,000–7,500 staff members as the Walmart-owned ecommerce giant gears up for a potential initial public offering.

The company, last valued at $35 billion, will allow employees to sell up to 5% of the options vested over the last three years. All active employees as of July 5 can liquidate up to 5% of their outstanding options vested since July 6, 2022, Flipkart group chief executive Kalyan Krishnamurthy wrote in a note to employees. The…



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Flipkart to buy back $50 million in employee stock; 7,500 staff may benefit


Flipkart on Fridayannounced a $50 million employee stock buyback programme, which will provide liquidity to around 7,000–7,500 staff members as the Walmart-owned ecommerce giant gears up for a potential initial public offering.

The company, last valued at $35 billion, will allow employees to sell up to 5% of the options vested over the last three years. All active employees as of July 5 can liquidate up to 5% of their outstanding options vested since July 6, 2022, Flipkart group chief executive Kalyan Krishnamurthy wrote in a note to employees. The…



Source link

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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