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Swiggy Launches $23 Million ESOP Liquidity, All Employees Are Now Eligible

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Online food delivery platform swiggy on Thursday said its employees will have the option to receive cash of up to $23 million at their expense employee share ownership plansESOPs



Swiggy announced the next round of ESOP liquidity to be held in July 2023.

This empowers employees with ESOPs to create wealth in addition to brand growth and success, the company said in a statement.

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“We are pleased to see the wealth created for employees by the recent ESOP liquidity event,” said Girish Menon, head of HR at Swiggy.

“To take this further, we are excited to now extend the ownership opportunity Swiggy ESOPs to all employees through our build your own dollar (BYOD) program,” he added.

Under the BYOD program, Swiggy employees across the company can choose to invest in ESOPs previously offered to employees above a certain grade and/or based on performance.

The BYOD program is now open to all permanent Swiggy employees, the company said.

Founded in 2014, Swiggy connects consumers with more than 2,000,000 restaurant partners and stores in more than 500 cities.

The fast shopping service Instamart is present in 29 cities. In December 2021, Swiggy announced it was pumping $700 million into Instamart.

Last month Swiggy . bought Dining outa tech platform for dining out and restaurants, for nearly $200 million.

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