Cashify announces ESOP buyback plan worth $1 million for employees

Cashify, a re-commerce marketplace that sells and buys used electronic gadgets, on Thursday announced employee stock ownership (ESOP) buyback plan worth $1 million.

Under the plan employees would be given the option to liquidate upto 35 per cent of their vested Employee Stock Options (ESOPs). The share buyback plan comes at a time when the company claims that it is growing at the rate of 7-8 per cent month-on-month.

“Cashify has thrived on the entrepreneurial spirit and sense of responsible ownership that our employees bring in their approach. The ESOP buyback is our way of acknowledging and rewarding their efforts.