Bangalore, July 15, 2024: Swiggy, India’s pioneering on-demand convenience platform, announced its fifth ESOP liquidity programme today. As part of this employee-friendly initiative, Swiggy employees across levels and functions will have the option to receive liquidity of up to USD 65 million for their ESOPs.
This is the fifth liquidity event for Swiggy since 2018, and third consecutive event after July 2022 and 2023, making it one of the few start-ups to consistently enable wealth-creation opportunities for its employees. So far, the company has cumulatively enabled over Rs 1000 Cr of ESOPs liquidity over the five events, benefitting over 3200 employees.
“Rewarding employees by unlocking wealth-creation opportunities as Swiggy grows has always been a key priority for us,” said Girish Menon, Head of HR at Swiggy. “Employees owning shares of their company creates alignment of incentives and a sharp focus on collaborative excellence, which is a virtuous cycle that we believe in and espouse. As we approach the milestone of a decade of consumer love for Swiggy, the latest ESOP event is an acknowledgement of our employees’ contributions, and our commitment to sharing Swiggy’s success and growth with them.”
About Swiggy
Swiggy is India’s pioneering on-demand convenience platform, catering to millions of consumers each month. Founded in 2014, its mission is to elevate the quality of life for the urban consumer by offering unparalleled convenience. With an extensive footprint in food delivery, Swiggy Food collaborates with nearly 2 lakh restaurants across 600+ cities. Swiggy Instamart, its quick commerce platform operating in 25+ cities, delivers groceries and other essentials across 20+ categories in 10 minutes. Fueled by a commitment to innovation, Swiggy continually incubates and integrates new services like Swiggy Dineout and Swiggy Genie into its multi-service app. Leveraging cutting-edge technology and Swiggy One, the country’s only membership program offering benefits across food, quick commerce, dining out, and pick-up and drop services, Swiggy aims to provide a superior experience to its consumers.
For more information, visit www.swiggy.com
