Digital payment App PhonePe to launch ESOPs for its 2,200 employees. The $200 million Stock Option Plan gives every PhonePe employee the chance to own a part of the company and benefit from its success. According to the Sameer Nigam-led company, the plan was launched in January to enable everyone in the organization to benefit from its success.
Mobile Premier League, Wakefit, ShareChat, and Licious are some of the other start-ups which have recently announced ESOPs.
By having ESOPs at a minimum of USD 5,000 for all levels, we enable every employee in the organization to participate in the wealth generation opportunity…” a company blog post said.
Flipkart on Thursday announced a “partial spin-off” of PhonePe to help the digital payments platform access dedicated, long-term capital to fund its growth ambitions. Flipkart, however, will remain the PhonePe’s majority shareholder.
In the last four years, since PhonePe was founded, it has garnered over 250 million registered users with over 100 million monthly active users, generating nearly one million digital payment transactions in October 2020.
