10% of all exit profits to be shared with employees by Hurun India Founder
- ByStartupStory | March 10, 2022
Hurun India’s founder and managing director of wealth research agency, Anas Rahman Junaid, announced that 10% of profits from his personal startup investments will be shared with his long-term employees.
“I am doing this for employees. Making them part of India’s startup revolution. No risks involved. I believe it is important that business owners think beyond their companies when it comes to team’s wealth creation,” Junaid tells Fortune India.
Aisle, an online dating platform was exited by Junaid recently. On the face of it, an angel investor looking for better allocation of their funds might have seen the development appearing as a usual move, but Junaid explained how its benefits might extend well beyond him.
A part-time angel investor, Junaid, elaborated about his decision from his exit with his employees to share the proceeds, so that they too can enjoy event-based wealth creation, which is not a usual occurrence in the bootstrapped organisation like Hurun.
As a result of his exit from Aisle, the proceeds were generated by Junaid. The Hurun India CEO, in a note to the companies in his portfolio, quipped that the wealth created by the companies, has been invested not only provides returns to him, but to his team too.
Along with early-stage investor Konglo Ventures’ founder Vinod Jose, CIO Angel Network, White Unicorn Ventures, and LetsVenture, Junaid led the series A funding round back in early 2021. His exit from the digital dating platform of about eight-year-old comes a little over one year.
The banking sector has also been seeing the trend of sharing returns from investments. Last month, V. Vaidyanathan, the CEO of IDFC First Bank, gifted 9 lakh equity shares to five of his employees held by him to five individuals including his driver, trainer and domestic help. Around 3 lakh shares worth ₹1.3 crore has been received by Vaidyanathan’s trainer Ramesh Raju as a gift to purchase a house. A househelp of the lender’s CEO- Pranjal Narvekar, and the driver- Algarsamy C Munapar, got 2 lakh shares each worth about ₹86 lakh.
Another househelp of Vaidyanathan, Santosh Jogale, received 1 lakh shares worth ₹43 lakh. A member of Vaidyanathan’s office support staff- Deepak Pathare, also received 1 lakh shares. Rukmani Social Welfare Trust for social activities, disposed about two lakh equity shares of the lender. For gifts and social activities about 11 lakh equity shares were disposed in total.
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