News · Commerce & Consumer Brands

Swiggy rolls out $50 Mn ESOP liquidity program

By Startup Enthusiast · 24 July 2023

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Swiggy rolled out a second tranche of ESOP liquidity worth $50 Mn for employees

This is the fourth such event since 2018, restoring confidence amid a funding winter

Eligible employees from acquired Dineout can also participate

Swiggy has rolled out the second tranche of its ESOP liquidity program worth $50 Mn.
The first tranche was initiated in June 2022, giving employees liquidity of up to $23 Mn against their ESOPs.
This is the fourth liquidity event for Swiggy since 2018.
Eligible employees from Dineout, which Swiggy acquired in 2022, can also participate.
Swiggy acquired Dineout from Times Internet for an undisclosed sum to enter the table booking space.
Swiggy integrated Dineout and strengthened its quick commerce business with Instamart.

Over 80 startups have bought back ESOPs worth $1.45 Bn since 2020.
In 2022, 25 startups announced ESOP buybacks worth about $200 Mn.
In 2021, ESOP buybacks totalled $440 Mn.
In 2020, ESOP buybacks were worth $50 Mn.
Total ESOP buyback value in the first half of 2023 was barely $50 Mn.
Swiggy and Flipkart's ESOP events help restore employee confidence amid a funding winter and mass layoffs.

Swiggy operates a food delivery platform connecting users with restaurants.
It also runs Instamart, a quick commerce service delivering groceries and essentials in minutes.
Through the acquisition of Dineout, Swiggy offers table booking services.
Swiggy makes money through commissions from restaurants, delivery fees, and advertising.
It operates across hundreds of cities in India.