Moglix expanding ESOPs Pool by $10M covering 300+ employees
Moglix has expanded its ESOP pool further by $10 Million to include more than 300 employees under the program. We have also announced an ESOP buyback program worth $3 Million for all eligible employees with vested stocks on the heels of its recent fundraise. Employees will be able to sell up to 25% of their vested shares during the buyback.
“We believe ESOPs represent ownership mindset and belief in the vision. Typically B2B and Manufacturing are not seen as attractive sectors for talent. But through our ESOP program and our work culture, we want to make it rewarding and meaningful to work in B2B. We want to enable long-term wealth creation for employees and recognize their contribution and commitment.”says Rahul.
One of the early joiners, Pankaj Kumar, who heads engineering and has been with Moglix for five years, shares, “Participating in the ESOP buyback was my “KBC” moment. You don’t imagine the scale of impact ESOPs can make in wealth creation, it can bring multi-generational change in just a few years. I have not encashed most of my ESOPs, as I know that no other investment can give these kinds of returns, and this is the confidence I have in the potential of Moglix.”
Moglix recently entered the unicorn club with the latest fundraising round from Falcon Edge Capital and Harvard Management Company. With end-to-end supply chain operations from sourcing to financing, 30+ warehouses, and a team strength of ~1000 employees, Moglix is Asia’s largest and fastest-growing B2B Commerce company focused on manufacturing and infrastructure