Online gaming startup WinZO has announced its third round of ESOP liquidation, providing an opportunity for eligible team members to partially liquidate their vested ESOPs. WinZO executed its first and second ESOP liquidation programs for its current and former teams in 2021.
This liquidation exercise, which is funded by the company’s existing cash reserves, is for employees who have served a minimum of two years with WinZO. It benefits around 25 per cent of the company’s workforce, including all early-team members.
Founded by Paavan Nanda and Saumya Singh Rathore, WinZO collects an entry fee on the prized multiplayer events and charges a commission on the overall collections. The company has onboarded Mahendra Singh Dhoni as a brand ambassador (earlier shilling Dream 11) in March last year to capitalise on the surge of fantasy sports gamers in India and also launched a game development fund worth $20 million.
The firm has secured a cumulative funding of $100 million through multiple funding rounds, with investments from Griffin Gaming Partners based in California, gaming funds like Makers Fund and Courtside Ventures, and India-based VC Kalaari Capital.
WinZO claims to have more than 130 million registered users and it facilitates more than four billion monthly micro-transactions.
