Flipkart is rolling out stock options for senior employees of Jabong
Jabong’s employees will get the options based on an April valuation which was at $10.2 billion for Flipkart.
If Flipkart raises capital in the next funding round and is valued at $11.6 billion, the valuations are expected to be revised.
"They have given the stock with Flipkart option to 25-30 people at Jabong and as the next round of funding happens, the valuations will be revisited. Right now, they have given at $10 billion valuation," a person familiar with the development told ET.
"Employees have been the strongest pillars of support over the past decade for the entire Flipkart Group, and we believe in rewarding them in the truest possible sense," a Flipkart spokesperson told ET in an emailed response.
Through the ESOPs, companies give employees the right to purchase the company stock at a specified price, generally lower than the price offered to investors, for a limited time period.
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