Amazon-backed Acko concludes first ESOP liquidity programme

Amazon-backed Acko concludes first ESOP liquidity programme
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Last Updated: Apr 12, 2021, 08:55 PM IST
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Synopsis
Acko employees who have completed three years at the organisation were given the option to liquidate 40%-100% of their vested employee stock ownership plans (ESOPs).
ETtech
(Illustration: Rahul Awasthi/ETtech)
Mumbai: Amazon-backed general insurance startup Acko has concluded its first ESOP liquidity programme worth $2 million for around 40 of its long-term team members, co-founder Ruchi Deepak told ET Monday.
Under the programme, employees who have completed three years at the organisation were given the option to liquidate 40%-100% of their vested employee stock ownership plan. The exercise valued the Bengaluru-based insurer at around $500 million, or at a premium over its last round of funding, according to a person with knowledge of the matter.

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