ESOP liquidation worth $10 Mn announced by Cloud kitchen unicorn: Rebel Foods

• ByStartupStory     |    March 25, 2022

Rebel Foods, the cloud kitchen unicorn, has announced an ESOP liquidation program for eligible current and former employees worth $10 million.

This year, over 150 current and former employees of Rebel Foods were given an opportunity to liquidate their vested options, through this programme. Employees can liquidate the ESOPs periodically without terms and conditions, under this program. In a one-year period, the opportunity can be availed once. A pool of funds will be set aside every year to enable such liquidation by the company.

By 31st October 2021, all those who had vested options were eligible for the liquidation. With its Series F round of $175 million in October 2021, the company attained unicorn status.

Homegrown brands such as Faasos, Behrouz Biryani and Ovenstory Pizza has been owned by the Jaydeep Barman-led company and claims to operate more than 45 brands across 10 countries including India, UK, Indonesia, UAE, and Singapore. From Swiggy and Zomato, Rebel Foods gets more than 60% of its order volume. 

A growing number of Indian unicorn startups that have announced ESOP buybacks in the past 15 months were joined by Rebel foods. The list includes CoinSwitch Kuber, LEAD, Slice, NoBroker, Cars24, CRED, Urban Company, Spinny, and Vedantu.

Follow Startup Story