Aritificial intelligence (AI) powered growth marketing platform, Netcore Cloud, has granted $8 million to its employees as part of the ESOP liquidation programme (ELP) in two years. This is the second ELP by the Company, the most recent one coming on Diwali 2021, where 250+ employees were eligible. This second edition of ELP saw a whopping 60 per cent higher value per share than the first one.
The initiative has granted the employees of the Company an opportunity for wealth creation and enabled them to develop a greater sense of belonging. Around 48 per cent of the employees across all levels are part of this programme. With the reinfusion of the cash-settled ESOP, the Company has ensured that 25 per cent of Netcore Cloud holding remains with employees, a number that has stayed constant since the ESOPs were implemented in the Company back in 2006.
Commenting on the liquidity programme, Bhavana Jain, chief human resources officer at Netcore Cloud, acknowledges that the “phenomenal growth trajectory, especially in the last three years at 35-40 per cent YoY” would not have been possible “without the collective conviction and contribution of every Netcorian”.
Jain reiterates that the Company has “always believed in our employees’ wealth and value creation, and the ESOPs liquidation scheme is one more step towards that.”
The ESOP has resulted in 400X value appreciation for Netcorians. “As we prepare for an IPO in the next 18 months, our employees will be able to reap $100 million as part of the ESOPs programme,” declared Jain.