ExperientialEtc, a five-year old startup, has announced employee stock options (ESOPs) worth $500,000 for its employees. The shares will be distributed free of cost with a three-year vesting period in recognition of the employees who have gone the extra mile to help sustain the Company’s growth momentum and
support the entrepreneurial culture.
Following the first round of funding, the Company went into a hiring overdrive and now has awarded ESOPS
to eligible employees. With this current allotment, about 20 per cent of the Company’s full-time employees, out of a total of 50, have been granted ESOPs worth $500K. The total fund for the current fiscal is around $6,27,911.
ExperientialEtc is in the business of digital advertising using the latest technology such as holograms, augmented reality (AR), mixed reality, immersive games technology, Web 3 opportunities and Metaverse applications.
Till date, ExperientialEtc has served over 200 brands with creative visual solutions employing AR, VR, gaming, blockchain technology and Metaverse applications. Among its esteemed clientele are big brands such as Tata Motors, Amazon, KPMG, SonyPix and BCCI. It also helps the best advertising agencies with creative branding, using next-generation technology.
Its valuation in the last six months has gone up from five million to 22.
Given its new offices across geographies, ExperientialEtc is clearly all set for sustainable growth.
Interestingly, the startup had pitched its ideas on Shark Tank. Due to low-equity valuation, the business had rejected the offer. However, it managed to draw investors, and received seed funding from
Startuplanes and Pre Series A from Snard Finance, We Founder Circle, India Accelerators and others.
Karan Bhardwaj, CEO, ExperientialEtc is “happy to make our employees partners in our journey. The ESOP fund will motivate our employees to deliver on our strategic road map “Vision 2025” – achieving revenue of $1,88,37,960 (about Rs 150 crore)”.
He expressed confidence that driven by the entrepreneurial spirit of these individuals, the value of this fund will eventually increase to 12,56,028 USD(Rs10 Crore).