Meesho, an internet commerce platform announced a $5.5M ESOP liquidity program for all eligible current and former employees with vested stocks. This is the company’s second such liquidity program in less than a year.
Last month, Meesho raised a $570 million Series F from Fidelity Management & Research Company, B Capital Group, and other new and existing partners like Prosus Ventures, SoftBank Vision Fund 2 and Facebook, growing its valuation by >2x to $4.9 billion.
Vidit Aatrey, Founder & CEO, Meesho spoke on the announcement, said “We continue to see meteoric progress not only as a business but also in our efforts to democratize internet commerce for everyone. Our employees have been at the forefront of driving this momentum, and we want to give them ample opportunities to celebrate and grow with us. As we hire across the board and scale our tech and product talent by 2.5X, ESOPs will give employees high ownership, while providing more opportunities for wealth creation.”
Over the last six months, the company has seen 2.8X growth in monthly transacting users and a 2.5X rise in monthly orders. The company now aims to reach 100 million transacting users by December 2022, increase its roster to over 50 million products, and intends to go deeper into India’s underserved markets, becoming the preferred e-commerce destination for the next billion users in the country.