Rebel Foods offers ESOPs valued at Rs 550Cr to kitchen, corporate employees

Rebel Foods, a prominent cloud kitchen startup in India, said it will be distributing Employee Stock Ownership Plans (ESOPs) to its workforce. This move marks the first time a food-tech company in India has implemented such a widespread ESOP distribution across all levels and regions. Over 5,000 employees working in more than 350 kitchens and corporate offices have been granted ESOPs by Rebel Foods.

The distribution of ESOPs has resulted in a total value of $65 million (equivalent to Rs 550 crore) in the hands of the startup's employees. This demonstrates the company's commitment to empowering its workforce and sharing the rewards of success. Moreover, Rebel Foods has also introduced an ESOP liquidation program for the second consecutive year, allowing current and former employees to cash in their vested options within a one-year period.

Ankur Sharma, Co-founder of Rebel Foods, expressed the company's intentions behind this ESOP initiative. He emphasized the aim of democratizing wealth creation for the team and recognizing their dedication, customer-centric approach, and outstanding performance. Sharma further mentioned that Rebel Foods will persist in providing similar opportunities in the future, ensuring that their employees are duly rewarded for their hard work, contributions, and unwavering belief in the company's vision and mission.

By implementing this comprehensive ESOP program, Rebel Foods not only strengthens its bond with its employees but also establishes itself as a pioneer in the food-tech industry, setting a noteworthy precedent for other companies to follow.

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