Paytm creates its employees into millionaires

Paytm's share created new millionaires in the value of secondary sales to US$10 billion. More than 100 employees and former employees have become millionaires where the Noida-based startup completed the sale of shares of Rs500 crore including Rs300 crore from the sale of the new secondary stock.

Around 25 Paytm employees each made over US$1 million in new sales aimed at rewarding staff. Paytm's chief executive Harinder Takhar, who resigned earned Rs40 crore (US$6.3 million). The company did not disclose details of other employees.

Tinuku Paytm creates its employees into millionaires

Secondary sales provide an opportunity for Paytm employees and former employees to liquidate Esop units and create wealth. Esop is not limited to high-level executives, but also loyal employees and office staff. Investors include SoftBank, SAIF Partners and Alibaba Group Holding Ltd.

"There are another 100-150 other employees who become millionaires of dollars," said Paytm's founder Vijay Shekhar Sharma,

Esop is a financial instrument that allows employees to own shares for sale into cash after a predetermined period of time. In December, Flipkart completed a $ 100 million Esop repurchase in which more than 3,000 employees participated in the share buyback program.

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