Whatfix, a digital adoption solution provider, announced Tuesday that it had implemented its maiden employee stock ownership program (ESOP) buyback of $4.3million (Rs 32 Crore).The company stated that over 80 percent of eligible 175 employees chose not to liquidate their vested stock shares.Whatfix offered employees the opportunity to liquidate up 35 percent of their vested ESOPs.It noted that the shares were repurchased by the company."This is the company's first buyback...over 80 percent eligible 175 employees chose not to liquidate their shares. This reinforces their trust in the company's future."Current and former employees can benefit from the value of shares at non-discounted series D valuation of the company." it stated.Whatfix raised $90 million ($about Rs 656 crore) last month from funding from SoftBank Vision Fund 2, Eight Roads Ventures and Sequoia Capital India. This brings the total amount raised by Whatfix to $139.8 millions.Whatfix is today a top-ranked Digital Adoption Platform (DAP). This success is due to the incredible work of our employees. Our employees turned this difficult time into a period of strength, even as the world faced unprecedented challenges," Khadim Batti, co-founder and CEO of Whatfix, said.He said that it is crucial for employees to grow with the company.Batti stated, "Through this ESOP Buyback, we are thanking our employees for their continued belief in our success.Over the past two years, the company has seen rapid growth with headcount and revenue tripling, and the opening of three new offices in Australia, Germany, and the United Kingdom. Whatfix currently employs 500 people in six offices around the world.
