E-Commerce Platform 'Shiprocket' expands with 19 million new ESOP Options
Shiprocket, the logistics and supply chain enabler, added a new employee stock option worth 
134 crore (approximately $16 million) under its ESOP Plan 2016. This will be the second ESOP expansion for the Delhi-based unicorn in the ongoing calendar year.
Shiprocket has approved a special resolution to add 31,011 ESOPs to its existing plan, bringing the total ESOP pool to 1,74,440 options. The board at Shiprocket has approved a special resolution to add 31,011 ESOPs to its existing.
A newly added ESOP to be worth 135 crore, or $16 million, whereas Shiprocket's total ESOP plan is worth 757 crore (roughly $90 million).
Shiprocket has also received shareholder consent to change the ESOP trust's name from "Bigfoot Employee ESOP Trust" to "Shiprocket Employee ESOP Trust," according to a separate resolution filed by the firm.
Over $300 million has been raised by Shiporcket, and its latest round of $11 million from McKinsey valued it at $1.23 billion. According to the startup data intelligence platform TheKredible, Bertelsmann Nederland B.V is the largest outside stakeholder with 25.1%, followed by Tribe Capital, with 15.80% Notable investors in Shiprocket include Zomato, Temasek, Lightrock, and PayPal.
The fiscal year ending March 2024 witnessed a 21% year-on-year increase in revenue, reaching 1,316 crores, while its losses totaled 595 crore.
Unicommerce recently acquired Shipway, along with other players such as Shipyari among others. It competes with Unicommerce, which recently acquired Shipway.
