Urban Company aims to enhance partners ESOPs multi-fold to Rs 150 cr in 5-7 years

Updated: Nov 28 2022 10:25PM

New Delhi, Nov 28 (PTI) Home services marketplace Urban Company looks to increase Partner Stock Option Plan to Rs 150 crore in the next 5-7 years, the unicorn said on Monday.

Urban Company said that it has awarded company stocks worth Rs 5.2 crore to about 500 partners across India in November.

"Earlier this year, we decided to create a fund of Rs 150 crore to make partners become shareholders of Urban Company. Today we are happy to announce our second cohort of about 500 partners who have been awarded with shares. This is just the start and we are hopeful that in the coming years, the numbers will rise to thousands," Urban Company, co-founder and CEO, Abhiraj Bhal said In March 2022, Urban Company launched the Partner Stock Option Plan to award shares worth Rs 150 crore to thousands of service partners over the next 5-7 years.