Tech
Flipkart to buy back $50 million in employee stock; 7,500 staff may benefit
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Flipkart on Fridayannounced a $50 million employee stock buyback programme, which will provide liquidity to around 7,000–7,500 staff members as the Walmart-owned ecommerce giant gears up for a potential initial public offering.
The company, last valued at $35 billion, will allow employees to sell up to 5% of the options vested over the last three years. All active employees as of July 5 can liquidate up to 5% of their outstanding options vested since July 6, 2022, Flipkart group chief executive Kalyan Krishnamurthy wrote in a note to employees. The…
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