Social commerce platform Meesho’s major investor Naspers has bought employee stock options worth $1 million. This ESOP buyback program saw 60% of eligible employees exercising the option to sell up to 30% of their vested shares. There were around 35 people within the company who were eligible for this program, and only 20 opted for it.
Recently, the Facebook-funded firm has recorded over 13X jump in operational revenue to Rs 80.3 crore in FY19 from mere Rs 6 crore in the preceding fiscal with total losses amounting to Rs 100.42 crore. (Source)
