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Swiggy announces ₹150 crore Esops under 2024 plan
Swiggy just announced a fresh ₹150 crore ESOP plan, handing out nearly 39 lakh stock options at just Re. 1 each.
These will turn into shares once vested, reflecting Swiggy's effort to keep its team motivated and invested in the company's future—even as it navigates some financial bumps.
Swiggy's revenue jumped 45% year-on-year last quarter
Swiggy's revenue jumped 45% year-on-year last quarter to ₹4,410 crore, but losses also grew to ₹1,081 crore as the company raced to expand its quick commerce business (think: adding four dark stores a day).
This new ESOP follows an earlier big employee rewards package this year and signals that Swiggy wants its people along for the ride as it grows.