This early-stage startup has announced its first ESOP buyback sale to recognize employees' efforts
In a rare event for a Series A funded startup, content sharing platform SuperShare announces ESOP buyback to draw in new talent while recognizing current and past employees for their support and contributions.
Founded in 2021 by Sagar Modi and Advaith Vishwanath,is a unique content-sharing platform catering to an ever-growing community of creators across all social media platforms. The company aims to revolutionize the way everyone around the world shares content they love.
"We are building the best way to share content. Sharing content is a huge part of our lives on the internet, and with the ever-changing landscape on social media, and the rising prominence of chat/community apps, we believe there is an opportunity to increase intimacy and efficiency in the way we share and consume content," says Sagar Modi, Co-founder and Chief Executive Officer (CEO), SuperShare.
Bengaluru-based SuperShare has also raised $6.5 million in the first funding round from Lachy Groom, Accel India, and Lightspeed. The round also saw participation from content creators Tanmay Bhat, MythPat, and several others from influencer management agencies across India.
Recognition and rewards
For an early-stage startup, a successful Series A fundraising sets a positive benchmark to further scale the business. The company has also recently announced its first-ever ESOP (Employee Stock Option Programme) buyback, a one-of-a-kind initiative for a Series A-funded SuperShare that aims to hire new talent while recognizing the contribution of its current and past employees.
“We’re building a social media platform for the world, from India. This requires an innovative product that requires the best engineers to work through never-before-solved problems. Having recruited some amazing teammates, we believe this is the best way to convey our gratitude to the team that has stayed with us through our seed journey,” says Sagar.
The program will allow employees with vested options to take part in the repurchase and liquidate up to 50 percent of their vested shares if their options are vested as of June 24, 2022. The announcement also strengthens the faith employees have in ESOPs as a wealth creation instrument.
“We are grateful to be in a strong position in the current market despite an uncertain macro environment. The ESOP program is designed to be best-in-class with employee-friendly features like monthly vesting and an infinite exercise period; after all, we are competing with the world’s biggest tech companies when it comes to talent pools,” says Advaith Vishwanath, Co-founder, SuperShare.
Building a global content platform from India
With SuperShare, Sagar and Advaith envision building a culture that supports and empowers the best tech talent. The duo believe in giving a certain amount of freedom and ownership to employees instead of micromanagement so that the team can innovate to the best of their abilities.
Having powered over 10 million content views on the internet, the startup is working closely with 50+ large content creators to help them explore the latest technology that can help their content creation business.
“Our vision is to build a global content platform from India, for the world. The next 12 months are dedicated to supporting top content creators in India to scale their content businesses by leveraging our technology,” says Sagar.
SuperShare is currently working with a few chosen creators in an invite-only program. Creators with more than 1 million subscribers/followers can click here to join the waitlist.