Worth $3.5 million, this scheme has been floated by the startup for the second time this financial year. The first cash out saw CarDekho buying back ESOPs worth $2 million.
In a statement, the startup said that the current discretionary ESOP cash out scheme is valid for both existing employees who have served two years and former employees who have served four years in the company and held vested options as of January 31, 2020.
Amit Jain, Co-Founder and CEO of CarDekho, said, “At CarDekho, we have always believed that our employees are our biggest asset and our most important investment. As technology is democratised its competitive advantages may diminish but it will be our employees who will continue to be our competitive advantage and key differentiating factor. Our success till date is a testimony of the great team we have built and this scheme is merely a way of thanking the employees for their significant contributions and dedication.”
Last December, CarDekho raised $70 million in a Series D round led by Ping An’s Global Voyager Fund, to strengthen its transactional business and expansion in Southeast Asia.
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