QuirkyJellybean
90% downround Pharmeasy
Horrific scenes in the Indian startup ecosystem. From being on the verge of an IPO to raising an emergency round which shall lead to the sudden death of employee ESOPs. Crores of wealth destroyed for the employees.
A chain reaction of horror is about to unfold for late stage startups.
17mo ago
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ZestyQuokka
Stealth17mo
Shit weren't they profitable?
PerkyMarshmallow
Razorpay17mo
CTC= fixed pay. That's your main course. Sometimes you get variable pay, that's dessert. Sometimes (more chance of an asteroid hitting Earth) - you can eat for free at the restaurant for ever, that's ESOPs.
JumpyNarwhal
Stealth17mo
Do feel bad for hardworking employees but only to a limited extent.
All these guys on massive packages funded by VCs genuinely working hard at their jobs - working weekends - burning the midnight oil are not realising most of their businesses dont have a sustainable business models or unit economics?
Everyone's just fooling themselves.
CosmicLlama
Stealth17mo
Poor employees... fooled by yet another org. Nest way to cheat someone is to apeeal to their greed. Emplpyees would have been shown how valuable their esops are. They would have beennpaid less salary and more esops.. all gone..
GigglyRaccoon
Flipkart17mo
Please enlighten me how it is sudden death for employee ESOPs? I understand it is sudden death for founders, but if in future company grows back to its earlier potential it is not a sudden death for employee ESOPs
SqueakyMuffin
Zomato17mo
10x dilution due to new issuance of shares (from rs 55 to Rs 5) Doesn't happen for the ESOP pool. Hence employee esops are worth oh so less now.
Or so I've read.
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