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Nuclei, a global SaaS platform that empowers enterprises and helps them transform the way they engage with their customers digitally, announced its maiden buyback from employees.
“The objective of the buyback is to provide employees the flexibility to sell their stock appreciation right (SAR) holdings and also for the company to distribute the wealth it generated among all its shareholders,” the company said.
All the 102 current employees and past employees will be eligible for this Buyback program.
Trica equity, a leading ESOP and cap table management product is the facilitator for the buyback for Nuclei.
Speaking on the buyback plan, Ankur Joshi, Founder & CEO of Nuclei, said, “We are on the path of building a global business out of India and we need our team to be stakeholders of the company for long term growth.”
“Giving a stake to the entire team has helped us to build a strong sense of ownership which we see translating to strong business outcomes for our global clients. We are proud to say that we did our first buyback within 3 years of inception and we will continue to do more buybacks regularly,” Joshi added.
Commenting on the buyback, Sanjay Jha, Co-founder & CTO, trica equity said, “By leveraging the trica equity software the Nuclei team was able to complete the entire buyback process in a paperless, quick, and hassle-free manner while maintaining full transparency for all stakeholders be it HR, finance team as well as employees. We look forward to working with Ankur and his team as they scale not only their business but also their stock option plan for team members.”