Whatfix, a firm in Digital Adoption Solutions (DAS), has announced it has implemented an employee stock ownership plan (ESOP) buyback of US$ 4.3 million for its employees. Valuing the hard work put in by employees through the company’s growth journey, Whatfix is granting them the option to liquidate up to 35 per cent of their vested ESOPs. This is the first buyback by the company where over 80 per cent of the eligible 175 employees have chosen not to liquidate their vested shares, thereby reinforcing their trust in the future of the company. Both current and former employees will be able to avail the value of shares at the series D, non-discounted valuation of the company.
Commenting on the development, Khadim Batti, Whatfix CEO and Co-Founder said, “Today, Whatfix is a leading Digital Adoption Platform (DAP) and this success is a result of the amazing work done by our employees. Even as the world experienced unprecedented challenges, our employees managed to turn this period into one of the strongest times for us. It is important that as we continue to grow, our employees grow along with us. Through this ESOP buyback, we are thanking and rewarding our employees for their continued faith in our success.”
