IPO-Bound Flipkart To Buy Back $50 Million In ESOP, Benefits Over 7,500 Staff
Flipkart announced a $50 million employee stock buyback for over 7500 employees ahead of Diwali. CEO Kalyan Krishnamurthy praised the team's achievements and future goals.
Walmart-owned Flipkart announced on Friday to reward its employees ahead of the Diwali by purchasing a $50 million employee stocks in a buyback scheme, benefitting over 7500 e-commerce employees. Flipkart is gearing up to launch its IPO very soon.
In a note addressed to employees, Kalyan Krishnamurthy, CEO of Flipkart, highlighted the company's achievements in the first half of the year, particularly in quick commerce and AI-driven customer experience innovations targeting Gen Z consumers. Praising the team's agility and execution, he expressed pride in their relentless drive and passion.
As part of the initiative, Flipkart's board has approved a special liquidity event under the Flipkart Stock Option Plan 2012. All active employees as of July 5, 2025, will be allowed to liquidate up to 5% of their vested stock options from the past three years (July 6, 2022 to July 5, 2025) at a rate of $174.32 per option. The payouts are scheduled for August 2025. This move aims to let employees share in the company's value creation and reward their efforts in driving success.
Kalyan further added that if key goals are met by the end of the year, another 5% ESOP liquidity event may be unlocked in early 2026. This, he said, is not just a financial gesture but also a recognition of innovation, commitment, and the drive to create exceptional value for customers.
Closing the message, Kalyan urged the team to continue striving for excellence, reminding them that in a fast-paced industry, past wins are stepping stones for future growth. He emphasized the immense opportunities in India and called for collective effort to harness them for meaningful success.
Walmart and other Flipkart board members have directed CEO Kalyan Krishnamurthy to reduce the company's monthly cash burn by 50%, bringing it down from $40 million to $20 million.
In 2018, Walmart acquired a controlling stake of 77% in the Indian e-commerce company Flipkart for $16 billion.
view comments
First Published:
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
12 minutes ago
- Time of India
Viral: Coditas CEO Mitul Bid shares GenZ candidate's sassy response upon rejection, leaves netizens shocked
Image credits: Getty Images While self-awareness and self-worth are two much-needed concepts in every human's life, Gen Z takes it up a notch. Those at the workplace, between 20 and 28, are typically appreciated for reshaping the experience with their value for a work-life balance and adherence to the concepts of personal boundaries and time. However, a recent Gen Z job candidate has raised many eyebrows with their response to rejection for a role. Mitul Bid, founder and CEO of tech company Coditas, recently took to LinkedIn to share a screenshot of a response he received from a Gen Z candidate who was not selected for a role. Part impressed and amused by the statements, he captioned the post, 'GenZ, you keep on teaching me!" What did the Gen Z candidate write? Image credits: LinkedIn/Mitul Bid Based on the screenshot shared by the CEO, the candidate made him aware that he would regret not hiring him and would one day rise above Bid's position to sign his exit letter. 'Totally respect your decision, but just wanted to say– Cool, you've decided to 'Move forward other candidates." — but let's be honest, you didn't even clock what I'm really capable of. You barely knew my skill set, my drive, or what I bring to the game. " 'But no worries — bigger doors are opening, and trust me, I'll crack a major opportunity with your company that actually knows how to spot real talent. I believe in myself. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 3–6 BHK luxury residences at Address by GS S3 Raymond Realty Learn More Undo I'm gonna build something big. I'm not here to beg for chances — I create them. And mark my words, one day I'll be sitting at the top while folks like you get shown the door," it added. Stating that the company "lost a gem", the response concluded with 'And one day, when I'm sitting in that corner office, don't be surprised if I'm the one signing your exit letter. You didn't reject me. You rejected the damn upgrade. I don't chase opportunities — I create them. I don't wait for offers — I become the offer. So yeah — you lost a gem, and I'll make sure the world knows it." How did people react to the Gen Z response? In the post, the CEO also revealed how other generations reacted to the Gen Z candidate's email, adding that the opinion was "largely a generational one." He shared how boomers and Gen X were shocked and some even angered. Whereas millennials had mixed views. While some were shocked, others expressed understanding and a few termed it the influence of social media. 'Most, but some were also understanding. Heard the terms 'entitlement', 'disillusioned', 'influenced by social media', etc," he added. Gen Z, as expected, supported the candidate, adding they understood where the candidate was coming from. 'I heard terms like 'manifestation', 'self-worth', 'motivation', etc," the CEO stated. Netizens react to the Gen Z candidate's email People on the internet had mixed reactions to the Gen Z candidate's bold email. While some appreciated their confidence, others criticised their arrogance. "It sounds harsh, but I love his/her confidence," commented one under the CEO's post. "Will Smith said, "I used to be stupid when I was a kid, but there were no social media back then, hence, I was stupid in private." Sadly these kids are showing first hand what public stupidity means," jabbed another. "Wow the entitlement is beyond me. It's good to be confident but this is something else..." wrote a person on LinkedIn. Many thought the response was definitely one motivated or influenced by ChatGPT, writing, "Another Gen Z bowing down to ChatGPT." A fellow Gen Z surprisingly criticised the response, writing, "As a fellow Gen Z no, this is not confidence. I don't find this valid. This is blatantly harsh. There is a way to write- which grounds in respect, clearly lacking here."
News18
28 minutes ago
- News18
Kalpataru posts Rs 49.42 cr net loss in Jun quarter
Agency: PTI Last Updated: New Delhi, Aug 13 (PTI) Realty firm Kalpataru Ltd on Wednesday reported a consolidated net loss of Rs 49.42 crore in the first quarter of this fiscal year. Its net loss stood at Rs 0.69 crore in the year-ago period. The total income fell to Rs 456.78 crore in the April-June period of 2025-26 from Rs 544.67 crore in the corresponding period of the preceding year, according to a regulatory filing. Kalpataru Ltd, which got listed on stock exchanges recently, is one of the leading real estate developers in the country. PTI MJH BAL BAL view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hans India
33 minutes ago
- Hans India
Poco Introduces M7 Plus 5G, Targeting Value-Conscious Buyers in India
Poco announced on Wednesday (August 13 2025) announced the Poco M7 Plus 5G launch smartphone designed for customers in the lower price bracketin India. It's IP64 certified for resistance to splashes. The latest Poco M7 Plus 5G features the 6.9-inch FHD+ display with an 144-Hz resolution and 700nits of peak brightness. M7 Plus 5G comes with a 7,000mAh Poco M7 Plus 5G battery that is backed by a charging 33W option. It also supports reverse charging. Poco uses Snapdragon 6s Gen 3 with up to 8GB of RAM and 128GB of storage in the M7 Plus 5G. It will be able to run on two OS and will get security updates for a period of four years. Virtual RAM of up to 8GB is also accessible. The rear camera of the Poco M7 Plus 5G is a 50-megapixel shooter, and the front Poco M7 Plus 5G camera is 8-megapixel for taking high-resolution photos from both front and back. Poco M7 Plus 5G will only be available through Flipkart from August 19 with an initial price of Rs12,999 for a 6 GB/128 GB version and $8 GB/128 GB version. Poco M7 Plus 5G: Price and Availability The Poco M7 Plus 5G price of ₹ 13,999 for the 6 GB RAM 128 GB storehouse variant and ₹ 14,999 for the 8 GB RAM 256 GB storehouse variant. Customers who are interested in copping the phone starting on the 19th of August at 12 pm( IST) on Flipkart. This 5G version of the Poco M7 will be available in three color options: Aqua Blue, Carbon Black as well as Chrome Silver. Poco offers immediate discount of Rs. 1,000 discount when you use HDFC, SBI, or ICICI Bank cards, or an additional amount of Rs. 1000 exchange reward on devices eligible. the duration of a limited-time launch promotion.
