Rapido Unveils First ESOP Liquidation to Boost Employee Morale

Ride-sharing service Rapido introduced its first ESOP liquidation program, allowing current and ex-employees to sell part of their vested ESOPs. Aimed at enhancing satisfaction and retention, the initiative underscores Rapido's commitment to rewarding employees and supports their growth belief.

Ride-sharing startup Rapido has launched its first Employee Stock Ownership Plan (ESOP) liquidation program, a significant move aimed at benefiting its workforce. This initiative permits current and former employees to sell a portion of their vested ESOP units immediately, an effort that seeks to boost job satisfaction and retention.

The company emphasized that this program is seen as a means to foster a culture of shared success and growth, demonstrating Rapido's dedication to acknowledging the hard work and contributions of its employees.

Co-founder Aravind Sanka expressed gratitude for the unwavering support from the teams, stating that Rapido's achievements wouldn't be possible without it. He mentioned that the program reflects the employees' confidence in Rapido's trajectory and growth potential.