Social Media

ShareChat issues $14 million more in ESOPs

Our Bureau Mumbai | Updated on September 24, 2020 Published on September 24, 2020

This time it covered every employee on its payroll including administrative staff who were not holding any ESOP earlier. The social media company’s ESOP pool is now $35 million

Social media platform ShareChat, has announced an additional $14 million ESOP pool reward to its employees.

Including the $21-million ESOP plan, earlier, ShareChat’s total ESOP pool now stands at $35 million, the company said in a statement.

Additionally, ShareChat has extended the facility to every employee on its payroll including administrative staff who were not holding any ESOP earlier. The decision was taken to recognise their hard work behind the incredible growth achieved by both ShareChat and its recently launched short video platform, Moj, the company said. The social media company has around 400 employees.

Strong user base

ShareChat has now exceeded 160 million monthly active users, with 31 minutes daily average user spent. Moj, the newly launched short video platform, has already garnered over 80 million MAUs, with 34 minutes daily average user spent.

Ankush Sachdeva, CEO & Co-founder, ShareChat said, “Our growth since inception has not been without challenges, but we have always managed to come out of these challenges unscathed just on the strength of our people. The additional ESOP is a measure of small appreciation for this commitment, and a recognition of our team’s efforts. The new pool will keep us well placed for rewarding our teams in the future as well.”

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Published on September 24, 2020
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