PharmEasy to Buyback ESOPs Worth $3 Mn, Move to Benefit 40-45 Employees
New Delhi, Nov. 16 -- PharmEasy is the latest startup to join Swiggy, Meesho Unacademy, Zerodha and others to buyback ESOPs. The online pharmacy has announced a $3 Mn ESOP buyback. It looks to instil confidence in staff amid the Covid-19 pandemic. The buyback will benefit 40-45 nearly employees of the Mumbai-based company.
PharmEasy was valued at around $700 Mn when it raised $220 million, led by Temasek last year. PharmEasy also counts venture capital firm Orios Venture Partners and Eight Roads as its early backers. "We raised one round, so we decided to allocate some portion of it to do a buyback and incentivise people for all they've done so far and we'll continue to do so. We're in a sector that's fortunately not affected, but our em...
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