First Esop buybacks for Slice and Bizongo
Monday, 14 February 2022, 16:37 IST
Supply chain enablement platform Bizongo and fintech firm Slice announced the completion of their first employee stock ownership (Esop) buyback programmes.
Slice said around 60 current and former employees were eligible for its buyback programme, worth INR 65 crore (around USD 8.6 million). Close to 54 existing and current employees participated in the buyback exercise, the company said.
Bizongo said that 102 of its current and former employees with vested options were eligible for its buyback. However, a little over 70 individuals participated in it, the company said.
“This buyback plan is our little way of saying ‘thank you’ to our teams, who have not only contributed to slice but also to the larger financial ecosystem. I cannot help but feel grateful for this opportunity to give back to the people who have shared the same vision and got on the journey from early on,” Rajan Bajaj, founder and chief executive of Slice, said in a statement.
“Bizongo has witnessed hyper-growth in revenue over the past few years and this is a direct outcome of the hard work and dedication of our employees, this Esop repurchase is our little way of sharing our success,” said Ankit Tomar, cofounder and chief technology officer at Bizongo.
Co-led by Tiger Global Management and Insight Partners at a valuation of more than USD 1 billion Last November, Slice joined India’s growing list of unicorn startups, after it raised USD 220 million as a part of its Series B fundraise.
Slice said around 60 current and former employees were eligible for its buyback programme, worth INR 65 crore (around USD 8.6 million). Close to 54 existing and current employees participated in the buyback exercise, the company said.
Bizongo said that 102 of its current and former employees with vested options were eligible for its buyback. However, a little over 70 individuals participated in it, the company said.
“This buyback plan is our little way of saying ‘thank you’ to our teams, who have not only contributed to slice but also to the larger financial ecosystem. I cannot help but feel grateful for this opportunity to give back to the people who have shared the same vision and got on the journey from early on,” Rajan Bajaj, founder and chief executive of Slice, said in a statement.
“Bizongo has witnessed hyper-growth in revenue over the past few years and this is a direct outcome of the hard work and dedication of our employees, this Esop repurchase is our little way of sharing our success,” said Ankit Tomar, cofounder and chief technology officer at Bizongo.
Co-led by Tiger Global Management and Insight Partners at a valuation of more than USD 1 billion Last November, Slice joined India’s growing list of unicorn startups, after it raised USD 220 million as a part of its Series B fundraise.
