Purplle enlarged Employee stock options pool size to $40 Mn

• BySheetal Sidhu     |    May 14, 2022

Purplle is the best B2-B and B2C platform for a package of food items, and edible products founded by Manish Taneja in 2013.

Purplle has enlarged its pool of employee stock options (ESOPs), joining the ranks of many other growing and late-stage firms. The expansion comes six months after the company’s $140 million Series D funding round. Purplle’s board of directors approved a resolution to expand its current ESOP pool to 6,806 ESOP choices, with each option being transformed into equity shares, as per the filing with the Registrar of Companies (RoC).

Following Nykaa, Purplle is another well-funded beauty and cosmetics firm. The business was valued at over $725 million in its previous financing. Purplle is mostly an online marketplace, but it also offers brand products like Good Vibes.

 Faces Canada and Juicy Chemistry were two other cosmetic initiatives made by the business last year. Private labels account for over a third of the total volume. In addition to Nykaa, the firm competes with other horizontal marketplaces like Amazon, Flipkart, and Good Glamm Group.

Wiz Freight,  VeGrow, Ather Energy, Ninjacart, Ecom Express, LEAP, and Pine Labs, are among the startups that have increased their ESOP pool this year by adding more stock options. In terms of ESOP buybacks, Indian startups have purchased $175 million in ESOPs from their employees.

According to statistics, the repurchase amount in 2021 was $440 million. Amidst the pandemic, Purplle increased its scale by 40.2 percent in FY21, from Rs 91.4 crore in FY20 to Rs 128.2 crore. In the financial year ending March 2021, its yearly losses increased by 114 percent to Rs 52.2 crore.

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