Health and fitness company HealthifyMe has announced an equity or ESOP buyback program worth $12 million that will provide liquidity to almost 100 of its current and former team members.
According to the company, prominent angel investors like Gopal Srinivasan, MD, TVS Capital Funds and Micromax will also receive up to 15X returns on their investment.
With this, HealthifyMe joins the likes of Udaan, ShareChat, Razorpay, CRED and most recently Licious which have bought back ESOP from their employees. Fintrackr’s research shows that around 10 startups had already bought stocks to the tune of $73 million held by employees in 2021.
Online stockbroking platform Zerodha had also said that it will buy back ESOP worth $27 million.
HealthifyMe recently raised $75 million in its Series C round led by LeapFrog and Khosla Ventures. Launched by Tushar Vashisht, Sachin Shenoy and Mathew Cherian in 2012, HealthifyMe uses a combination of software, wearable devices, and fitness trainers to help people reach their fitness goals.