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Meesho Announces Largest Employee Stock Buyback, Highlighting Continued Growth and Commitment to Workforce

 E-commerce giant Meesho has unveiled its most extensive Employee Stock Ownership Plan (ESOP) buyback program yet, allocating a significant Rs 200 crore (approximately $25 million) to repurchase shares from nearly 1,700 current and former employees. This marks the fourth such initiative for the company, demonstrating its dedication to rewarding its workforce and aligning employee interests with long-term company success.

 

The program extends to all employee levels, encompassing both unior executives and senior leadership. This inclusive approach allows a wider range of employees to benefit from the company's financial growth. Notably, Meesho recently achieved profitability and continues to maintain a positive financial trajectory.

 

Further solidifying its commitment to its employees, Meesho empowers small businesses (SMBs, MSMEs, and individual entrepreneurs) by providing them with access to a vast customer base, a diverse product selection, logistics support, payment services, and customer care capabilities. The company recently launched Valmo, a logistics marketplace specifically designed to enable its network of micro-entrepreneurs to become Meesho's logistics partners.

 

This news aligns with a growing trend within the industry. Similar to Meesho's initiative, community management app MyGate recently rolled out an employee stock buyback program for its employees. Data indicates a rising trend in ESOP buyback/payout/liquidity, reaching nearly $802 million in 2023.

 

Meesho's substantial ESOP buyback program signifies the company's unwavering commitment to its workforce. By offering this lucrative opportunity, Meesho fosters a culture of shared success, aligning employee interests with the company's long-term financial well-being.


 

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