{"id":10172,"date":"2021-12-21T13:11:03","date_gmt":"2021-12-21T07:41:03","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-spinny-esop\/"},"modified":"2021-12-21T13:11:03","modified_gmt":"2021-12-21T07:41:03","slug":"biz-spinny-esop","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-spinny-esop\/","title":{"rendered":"Spinny completes ESOP buyback worth $12 mn"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2599878085\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Mumbai, Dec 21 (PTI) Pre-owned car retailing platform Spinny on Tuesday announced the completion of USD 12 million (about Rs 90 crore) ESOP buyback for its current and former employees.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-117807077\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>This is the first ESOP (employee stock ownership plan) buyback that Spinny, which recently onboarded former cricketer Sachin Tendulkar as a strategic investor, has facilitated.<\/p>\n<p>ESOP is an employee benefit plan that gives workers ownership interest in the company.<\/p>\n<p>\u201cThe ESOP pool was constituted to ensure that our team members are rewarded for their belief in Spinny&#8217;s vision, and relentless hard work that goes in turning vision into reality,\u201d said Niraj Singh, Founder-CEO, Spinny.<\/p><div class=\"trade-content_5\" id=\"trade-237229017\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Spinny&#8217;s belief from the beginning has been to build an institution that earns trust by providing complete transparency and a standard experience to each of its buyers, he said.<\/p>\n<p>\u201cIt is imperative to nurture a working culture that inspires each and every team member to do the best work and have a say in all internal processes and decisions with a shared ownership approach in the truest sense,\u201d Singh added.<\/p>\n<p>The platform announced the closure of a USD 283-million Series E funding round from global investors, giving it a valuation of USD 1.8-billion. PTI IAS  BAL BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-247586566\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Dec 21 (PTI) Pre-owned car retailing platform Spinny on Tuesday announced the completion of USD 12 million (about Rs 90 crore) ESOP buyback for its current and former employees. This is the first ESOP (employee stock ownership plan) buyback that Spinny, which recently onboarded former cricketer Sachin Tendulkar as a strategic investor, has facilitated. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-10172","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spinny completes ESOP buyback worth $12 mn - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-spinny-esop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spinny completes ESOP buyback worth $12 mn\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Dec 21 (PTI) Pre-owned car retailing platform Spinny on Tuesday announced the completion of USD 12 million (about Rs 90 crore) ESOP buyback for its current and former employees. 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