<p>Home services marketplace Urban Company has recorded a 33 per cent jump in firm valuation to $2.8 billion in the employee stock sale programme concluded recently, the company said on Sunday.</p>.<p>The company raised Series F funding of $255 million in June, led by Prosus Ventures, Dragoneer and Wellington Management, with participation from Vy Capital, Tiger Global and Steadview, at a valuation of $2.1 billion.</p>.<p>Urban Company shared that it has concluded the sale of ESOPs (employee stock ownership plan), worth $7.3 million (Rs 54.6 crore) that were allocated to 770 employees comprising shares of around 390 former employees.</p>.<p>"Urban Company recently concluded its fourth and largest ESOP sale programme worth $7.3 million. The ESOPs sold in this transaction have largely been purchased by existing institutional investors of the company. The transaction culminated at a valuation of $2.8 billion, up from $2.1 billion for the Series F round in June 2021," the statement said.</p>.<p>With this round, the company said that it has facilitated approximately $13.21 million (about Rs 100 crore) worth of liquidity for its employees and ex-employees in 4 ESOP sale programmes.</p>.<p>Urban Company's first ESOP sale occurred in June 2017, followed by the second ESOP sale in December 2018 and the third sale in August 2020.</p>.<p>"This is our fourth and largest ESOP secondary sale we have facilitated till date. In our experience, such liquidation opportunities strengthen the faith team members have in ESOPs as a wealth creation instrument.</p>.<p>"Further, we have focussed on creating an employee-friendly ESOP programme, with features such as an exercise price of Rs 1, a linear vesting schedule and an unlimited hold period to exercise the ESOPs after an employee leaves the company," Urban Company co-founder Raghav Chandra said.</p>.<p>In the past seven years, Urban Company said that it has issued ESOPs to 940 current and ex-employees.</p>.<p>"A total of 550 of these 940 individuals have vested ESOPs, and were eligible to participate in this secondary sale programme. Employees and ex-employees could sell up to 100 per cent of their vested ESOPs as part of this sale programme," the statement said.</p>.<p><strong>Check out the latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>
<p>Home services marketplace Urban Company has recorded a 33 per cent jump in firm valuation to $2.8 billion in the employee stock sale programme concluded recently, the company said on Sunday.</p>.<p>The company raised Series F funding of $255 million in June, led by Prosus Ventures, Dragoneer and Wellington Management, with participation from Vy Capital, Tiger Global and Steadview, at a valuation of $2.1 billion.</p>.<p>Urban Company shared that it has concluded the sale of ESOPs (employee stock ownership plan), worth $7.3 million (Rs 54.6 crore) that were allocated to 770 employees comprising shares of around 390 former employees.</p>.<p>"Urban Company recently concluded its fourth and largest ESOP sale programme worth $7.3 million. The ESOPs sold in this transaction have largely been purchased by existing institutional investors of the company. The transaction culminated at a valuation of $2.8 billion, up from $2.1 billion for the Series F round in June 2021," the statement said.</p>.<p>With this round, the company said that it has facilitated approximately $13.21 million (about Rs 100 crore) worth of liquidity for its employees and ex-employees in 4 ESOP sale programmes.</p>.<p>Urban Company's first ESOP sale occurred in June 2017, followed by the second ESOP sale in December 2018 and the third sale in August 2020.</p>.<p>"This is our fourth and largest ESOP secondary sale we have facilitated till date. In our experience, such liquidation opportunities strengthen the faith team members have in ESOPs as a wealth creation instrument.</p>.<p>"Further, we have focussed on creating an employee-friendly ESOP programme, with features such as an exercise price of Rs 1, a linear vesting schedule and an unlimited hold period to exercise the ESOPs after an employee leaves the company," Urban Company co-founder Raghav Chandra said.</p>.<p>In the past seven years, Urban Company said that it has issued ESOPs to 940 current and ex-employees.</p>.<p>"A total of 550 of these 940 individuals have vested ESOPs, and were eligible to participate in this secondary sale programme. Employees and ex-employees could sell up to 100 per cent of their vested ESOPs as part of this sale programme," the statement said.</p>.<p><strong>Check out the latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>