Moj, ShareChat owner to buy back $19.1 mn ESOPs
The Hindu
Mohalla Tech, the holding company of short-video app Moj and Indian language social-media platform ShareChat, has announced its first ESOP buyback programme worth $19.1 million (about ₹140 crore).The
Mohalla Tech, the holding company of short-video app Moj and Indian language social-media platform ShareChat, has announced its first ESOP buyback programme worth $19.1 million (about ₹140 crore). The announcement comes after the company recently raised over $500 million, taking its valuation to $2.1 billion. Almost 200 existing and former employees with vested options are eligible to participate in this process and can sell up to 100% of their allotment. The new vesting policy would allow all the qualified employees to vest 25% of ESOPs in the first year, followed by 8.25% every quarter.
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