According to reports, as part of the company’s ESOP repurchase plan, Flipkart has credited 700 million dollars (about Rs. 5745 crore) to the accounts of its employees. In a company email, Group CEO Kalyan Krishnamurthy notified the staff of this. Per ESOP share, the corporation has paid Rs 3615. The specifics of these payments will be sent to the employees the following week, he stated in an email. More than 24000 people qualify for the payout. Following its split from the Flipkart group, it is a part of PhonePe’s fundraising round. Flipkart has bought PhonePe. It separated from the leading e-commerce company last year.

The two creators of PhonePe, Sameer Nigam and Rahul Chari, stand to benefit the most from this round. Last week, The Economic Times claimed that the pair might each earn up to $25 million. This equals a total of 410 crore rupees. The stock options held by the two people in the former parent business will be fully liquidated. Flipkart purchased PhonePe in 2016.

Who are Sameer Nigam and Rahul Chari?

The CEO and founder of the fintech business PhonePe is Sameer Nigam. Before starting his own business, he worked as a senior official at Flipkart. This was the second business he started that Flipkart bought.

Rahul Chari serves as PhonePe’s CTO. In addition, he helped start the business. He has more than 20 years of experience. Before creating PhonePe, he held the position of vice president of engineering. From the University of Bombay, he received his engineering degree. He had won a gold medal. He earned his master’s in computer science at the University of Purdue in the United States.

At a valuation of 12 billion dollars (Rs 98,492 crore), PhonePe got 350 million dollars in investment last year.

Rahul Chari’s life story is quite fascinating. He achieved IIT-JEE success and was admitted to IIT Bombay. But because he wanted to study computers, he decided to enrol at the University of Mumbai.

In Muscat, his father works as a civil engineer and architect. He loves to read. Rahul Chari enjoyed physics and maths. He enjoyed playing PC games as well.

He was admitted to the Civil Engineering programme at IIT Mumbai. However, he chose to enrol at the Mumbai University. In 1995, he purchased his first computer. At college, he met Sameer Nigam.

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