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Economic Times
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Darwinbox completes Rs 86-crore Esop buyback from 350 employees
- Darwinbox, a software-as-a-service unicorn specializing in HR services, has completed an Rs 86-crore Esop buyback from 350 employees, making it the company's largest such exercise.
- This Esop buyback marks Darwinbox's third programme in four years where employees sell their stock options to the company.
- In this case, Darwinbox is directly purchasing the stock options from its employees, unlike the typical process involving external investors.
- Other companies like Urban Company, Mygate, Meesho, Classplus, and Adda247 have also executed Esop buybacks recently.
- Darwinbox cofounder, Chaitanya Peddi, emphasized the importance of talent and wealth creation for employees in shaping the company's future.
- The company closed a $140 million funding round in March 2025, co-led by Partners Group and KKR, with a blended valuation of $950 million.
- Lightspeed, an early investor in Darwinbox, partially sold its stake through secondary transactions.
- Darwinbox reported a 58% year-on-year rise in total revenue for FY24, amounting to Rs 392 crore, driven by investments in R&D and international expansion.
- The company aims for over 50% revenue growth in FY25, targeting continued expansion and deeper customer engagement.
- Darwinbox's platform serves over 4 million employees in more than 1,000 enterprises, including renowned companies like Starbucks, McDonald’s, AXA, and WeWork.
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