Social commerce platform Meesho has announced an ESOP liquidity program worth $5.5 million for all eligible current and former employees with vested stocks.

This is the company’s second such liquidity program in less than a year. Last month, Meesho raised a $570 million Series F from Fidelity Management and Research Company, B Capital Group, and other new and existing partners like Prosus Ventures, SoftBank Vision Fund 2 and Facebook, growing its valuation to $4.9 billion.

Also see: India’s e-commerce industry expected to grow 84% by 2024: Report

Vidit Aatrey, Founder and CEO, Meesho, said, “We continue to see meteoric progress not only as a business but also in our efforts to democratise internet commerce for everyone. Our employees have been at the forefront of this momentum and we want to give them ample opportunities to celebrate and grow with us. As we hire across the board and scale our tech and product talent by 2.5X, ESOPs will give employees high ownership while providing more opportunities for wealth creation.”

Over the last six months, the company claims to have seen 2.8X growth in monthly transacting users and a 2.5X rise in monthly orders. The company now aims to reach 100 million transacting users by December 2022, increase its roster to over 50 million products and go deeper into India’s underserved markets, becoming the preferred e-commerce destination for the next billion users in the country.

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Meesho is a social commerce company started with the vision to enable 100 million small businesses, including individual entrepreneurs, to succeed online. The Meesho marketplace provides small businesses — SMBs, MSMEs and individual entrepreneurs — access to millions of customers, selection from over 700 categories, pan-India logistics, payment services and customer support capabilities to efficiently run their businesses on the Meesho ecosystem.

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