๐๐จ Spinny, the pre-owned car marketplace, is revving up its Employee Stock Ownership Plan (ESOP) by adding a whopping 23.7M options! ๐ That's a total of 178M options, pending shareholder approval. ๐
Why? To attract, retain, and motivate employees, of course! ๐ Spinny wants its peeps to share in the company's future success and feel a sense of ownership. ๐ค
Based on their valuation in July 2023, the total ESOP pool is worth around INR 936.9 crore. ๐ค Not too shabby, eh?
Spinny's been on a roll since 2015, operating 36 car hubs across 22 Indian cities, and raising over $500M to date. ๐๐
But the competition is fierce! ๐ฅ Spinny's up against Cars24, Droom, CarDekho, and CarTrade. The ESOP expansion shows they're serious about using employee motivation to stay ahead. ๐
What do you think about Spinny's move? ๐ค Share your thoughts in the comments! ๐ฌ #DeFi #Web3 #Technology
