Oyo grants discounted ESOPs to make all employees shareholders

Oyo is offering deeply discounted ESOPs to its employees. This is becoming a trend with mature startups facing challenges with raising new rounds of funding.

A few months after furloughing many employees, SoftBank-backed hospitality firm Oyo has now decided to offer its employees deeply discounted ESOPs.

"We have offered all our employees deeply discounted ESOPs comparable to Restricted Stock Units and henceforth called RSUs. This means all OYOPrenuers have been enabled to buy the stock of the company at a deeply discounted pre-determined price of value (referred to as “RSUs”) subject to the necessary corporate approvals. This is the first time in the history of the company that such a large part of the organization is being given an opportunity to become stakeholders of the company. The employees include the OYOpreneurs on LwLB who will also be granted deeply discounted ESOPs (RSU comparable hereby referred to as RSU) by OYO and as mentioned, we are already in the process of seeking the necessary corporate approvals," the company said in a statement.

The company, which claims it has $1 billion in its war chest, has also decided to offer its technology team increments and promotions.

Sandip Ginodia , Director

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