ESOP

Housing society management app MyGate on Thursday announced an offer to buy back shares held by employees under its stock ownership plan (Esop).The company is offering employees across all roles and business verticals who have worked for more than four years the opportunity to cash out 20% of their vested shares.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIT DelhiIITD Certificate Programme in Data…

Policybazaar parent PB Fintech on Tuesday reported its first ever net profit on the back of strong revenue growth for the quarter ended December 2023. This and more in today’s ETtech Top 5.Also in this letter:■ Sebi’s action against Growpital■ Neuralink implants brain chip in first human■ The fate of US H-1B visaPB Fintech turns profitable in Q3, revenue jumps 43% at Rs 871 crore PB Fintech chairman Yashish DahiyaPolicybazaar parent PB Fintech on Tuesday reported its maiden quarterly profit for the quarter ended…

One 97 Communications, the parent of Paytm, is aiming to generate free cash flow by the end of this year, chief executive Vijay Shekhar Sharma said on Saturday, a day after the digital payments company reported a narrower loss for the fiscal first quarter.In the past quarter, Paytm reported a slight sequential improvement in cash balances — Rs 8,367 crore compared with Rs 8,275 crore at the end of March 2023 — in an indication of a trend reversal at the company that has been consistently eating into its cash reserves over…

Paytm, India's leading payments and financial services company and the pioneer of QR and mobile payments, has announced Q1FY24 results where it has reported a massive improvement in EBITDA before ESOP cost of ₹84 Cr as compared to ( ₹275 Cr) in Q1 FY 2023. The company's revenue from operations has seen a growth of 39% YoY to ₹2,342 Cr.The company's EBITDA before ESOP margin stood at 4% on the account of continuous surge in profitability due to robust revenue growth, increasing contribution margin and operating…

Image Source : FLIPKART Flipkart rewards employees with a $700 million cash payment after completing the PhonePe spin-off Flipkart, an e-commerce giant has announced a "one-time discretionary" cash payment of $700 million to its employees, post following its separation from fintech firm PhonePe. The payment was confirmed by Flipkart's CEO, Kalyan Krishnamurthy, in an…

As the Flipkart-PhonePe separation process was formally announced on Friday, Flipkart group chief executive Kalyan Krishnamurthy sent a note to employees, informing them of “a one-time discretionary cash payout as part of the transaction” that will come their way. Employees who hold stock options in Flipkart will be paid cash equal to the value of PhonePe within those holdings, as the digital payments platform is no longer a part of the ecommerce company. “This payout will present an event for wealth creation for our…

Online food-delivery platform Swiggy on Thursday said its employees will have the option to receive liquidity of up to $23 million against their employee stock ownership plans (ESOPs).Swiggy announced the next round of ESOP liquidity to be held in July 2023. This enables employees holding ESOPs to create wealth alongside the growth and success of the brand, the company said in a statement."We are happy seeing the wealth created for employees from the recent ESOP liquidity event," said Girish Menon, Head of HR at Swiggy.…