Social commerce platform Meesho has launched a $5.5 million employee stock ownership plan (ESOP) liquidity programme for all qualifying current and past employees holding vested stock. The ESOP buyback scheme is scheduled to begin in November.
According to two people familiar with the details of the liquidity strategy, Meesho employees who are currently on roll and have vested ESOPs as of November 30 would be eligible for the buyback, along with former employees.
This is Meesho’s second ESOP buyback in less than a year, and its third since 2020. It began an ESOP repurchase for $1 million in February of last year. The business then announced the second round of ESOP buybacks for $5 million in November 2020.
Meesho just secured $570 million in funding headed by Fidelity Management and Eduardo Saverin’s B Capital Group, valuing the company at about $5 billion.
