Shipsy, a SaaS-based logistics management provider announces its first ESOP buyback. The buyback was open to all existing, full-time employees of Shipsy who have completed at least one year of full-time employment.
Shipsy's early-stage investors have already realised significant value in the organisation's secondary and buyback transactions in the past one and a half years.
"We have seen tremendous growth in the last few years. Our success is a combined effort of each of us at Shipsy, and celebrating it together is a part of our cultural DNA. We extended the buyback option to make these victories sweeter for our employees and their families, who have been consistent partners in our success. It is just one way of expressing our gratitude for the value they bring to the company," says Soham Chokshi, CEO and Co-founder of Shipsy.
The leading SaaS-based smart logistics management provider raised $25 million earlier this year from A91 Partners and Z3 Partners along with existing investors Info Edge and Sequoia Capital India's Surge, taking its overall funding close to 33 million.
Besides India, the company has headquarters and a strong presence in the Middle East and Southeast Asia and soon plans to set up offices in the Americas and Europe.