Cloud kitchen unicorn Rebel Foods announces ESOP liquidation worth $10 million

NEW DELHI:

Rebel Foods

on Friday announced a $10 million ESOP liquidation program for eligible current and former employees.

ESOPs or employee stock ownership plans are investments in company’s shares given to employees by the company. Through this program, Rebel Foods’ 150 current and former employees were given an opportunity to liquidate their vested options this year. Under the ESOP program by Rebel Foods, employees can liquidate the ESOPs periodically without terms and conditions. The opportunity can be availed once in a one-year period. The company will set aside a pool of funds every year to enable such liquidation.

The move comes at a time when Rebel Foods is aiming for a widespread expansion and growth trajectory post committing $150 million for strategic brand investments and acquisitions in India and globally. The company attained unicorn status with its Series F funding of USD 175 million in October 2021.

Founded in 2011 by Jaydeep Barman & Kallol Banerjee, Rebel Foods started its journey with Faasos in Pune.