Startup ESOPs: Software startup Browserstack completes first ESOP buyback

Synopsis
Browserstack's ESOP buyback comes at a time when several Indian startups — Zerodha, Meesho, CarDekho, Urban Company, BraratPe, FirstCry, Unacademy, Shadowfax and Niyo — have felt it necessary to reward their employees through wealth-creation opportunities.
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Bengaluru: Browserstack recently completed its first ESOP buyback, rewarding workers after the software products company posted strong growth during the Covid-19 pandemic and nearly doubled its headcount during the year 2020.
San Francisco- and Mumbai-based Browserstack said employees who had been with the company for over two years were eligible to participate in the buyback of employee stock ownership plans, and 50% of that eligible base took part in the exercise. It did not disclose more details.

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