Meesho, the online shopping platform, announced its intention to allocate Rs 200 crore towards repurchase of shares from approximately 1,700 former and current employees. This move marks the commencement of an Employee Stock Ownership Plan (ESOP) buyback programme, representing the largest ESOP liquidity pool in the company’s history.
The initiative extends to employees at various levels, from junior executives to senior leadership, who are eligible to voluntarily participate in the programme.
This announcement signifies Meesho’s fourth round of shares buyback, following previous repurchases worth $1 million in February 2020, $5 million in November 2020, and $5.5 million in October 2021.
By facilitating opportunities for wealth generation for nearly 1,700 past and present employees, this initiative underscores Meesho’s commitment to the collective success of its team and their integral role in the company’s growth narrative.
The company highlighted that it has sustained profitability and positive cash flow since July 2023, emphasising its resilience in fostering an environment conducive to growth despite prevailing macroeconomic challenges.
Meesho is an Indian social commerce platform, revolutionising e-commerce by empowering individuals to start their own online businesses with minimal investment. Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho connects suppliers with resellers, predominantly women, enabling them to sell products via social media platforms such as WhatsApp and Facebook.
Through its user-friendly interface and extensive product range, Meesho has democratised entrepreneurship, particularly in smaller towns and rural areas of India.
