US-based hedge fund and venture investor Tiger Global Management is buying back the shares of 140 employees at payments firm Razorpay via an employee stock option (ESOP) plan, a statement by the Bengaluru-based startup said. The investor is buying the shares through a secondary sale at a 50% higher valuation than that of Razorpay’s last funding round in January this year.
“We should see the ESOP buyback by Tiger Global as a compensation for employees who were probably hired on low salaries. From that perspective, it is a good development, said Sanchit Vir Gogia, founder and chief executive of advisory firm Greyhound Research.
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