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Flipspaces ESOP: Flipspaces rolls out Esop; sets aside 5% total equity for permanent employees

 November 12, 2024  Leave a Comment on Flipspaces ESOP: Flipspaces rolls out Esop; sets aside 5% total equity for permanent employees
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Flipspaces, a commercial interior design technology firm, has launched an employee stock ownership plan (Esop), allocating 5% of its total equity for employee ownership.

Permanent employees who have been with the company for over 1.5 years and have made significant contributions are eligible for the programme, said the company which posted revenue of Rs 300 crore in FY24.

“The new Esop initiative underscores Flipspaces’ commitment to empowering its employees while driving forward its ambitious expansion plans in India and the US,” the company said.

“The leadership and critical roles are prioritised,” it said, adding that the Esops are structured with a four-year vesting period and a one-year cliff.

Flipspaces has raised $7.5 million in equity so far. It is backed by Carpediem Capital, Prashasta Seth, and the MGA Family Group.

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“Implementing an Esop is not just about sharing ownership; it’s about creating a shared vision for our future. We believe that when our employees have a stake in the company, they are more motivated to contribute to its success. This initiative reflects our belief in investing in our people and our gratitude for their role in shaping the Flipspaces journey,” said Kunal Sharma, founder and CEO of Flipspaces.

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Flipspaces is also ramping up its acquisition strategy to further its expansion in India and the US.



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