Meesho reveals its biggest Employee Stock Ownership Plan buyback programme valued at almost $25 million

Meesho, a unicorn e-commerce business, has revealed its biggest Employee Stock Ownership Plan (ESOP) buyback programme, valued at almost $25 million, or Rs 200 crore. Approximately 1,700 current and former workers, ranging from junior executives to senior leadership, are expected to gain from the initiative. 

This is Meesho's fourth such initiative after three prior ESOP repurchase programmes totaling $11.5 million in February 2020, November 2020, and October 2021. Meesho gives small enterprises access to millions of clients throughout India, including SMBs, MSMEs, and solo proprietors. The firm provides pan-Indian logistics, a large assortment of over 30 categories, payment services, and customer support skills. Micro-entrepreneurs may now become Meesho logistics partners even more easily thanks to the recent establishment of Valmo, a logistics marketplace.

Meesho, in contrast to other e-commerce platforms, reached profitability in July 2023 and has continued to do so ever since, as well as generate positive cash flow. It's interesting to note that the firm reached Rs 5,735 crore in sales in the most recent fiscal year, with a 48% decrease in losses and a 77% growth in revenue year over year. 

With a focus on growth, the company is investigating new areas, such as building a platform for financial services and expanding its grocery delivery business.