Flipkart employees to get additional shares to compensate for lower valuation
Advertisement
Advertisement
It’s been just few days that In the last funding round in 2015, Flipkart was valued at $15.2 billion.
As Flipkart was funded at a lower valuation, it has seen a drop in the price of its shares that were issued to the employees with Employee Stock Options (ESOPs) when the company was valued higher. This includes not only Flipkart employees but also of its group companies, Myntra and Jabong along with payments venture PhonePe. About a third of Flipkart's 8,000 employees have ESOPs.
Also read: And now, artificial intelligence will make your Flipkart experience enriching
"As an organisation, Flipkart takes immense pride in being the employer of choice for thousands of professionals-a vaulted status that only comes with a deep, company-wide sense of transparency and fairness. If Flipkart does well, so should you," Group CEO Binny Bansal said in the email.
Advertisement
(Image source Huffington Post)
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Vodafone Idea FPO allotment – How to check allotment, GMP and more
- From terrace to table: 8 Edible plants you can grow in your home
- India fourth largest military spender globally in 2023: SIPRI report
- New study forecasts high chance of record-breaking heat and humidity in India in the coming months
- Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300
- Strong domestic demand supporting India's growth: Morgan Stanley