Rebel Foods offers ESOPs worth Rs 550 cr to kitchen, corporate employees

Posted on by

Rebel Foods, the world’s largest Internet restaurant company, has distributed ESOPs (Employee Equity Plan) to more than 5,000 employees in more than 350 corporate kitchens and offices. With this distribution round, the total ESOP held by Rebel employees has now reached Rs 550 crore ($65 million).

With the activity of distributing ESOPs, Rebel Foods is one of the first food technology companies in India to distribute its ESOPs on such a large scale across all levels and regions.

Rebel Foods said it aims to recognize the efforts and reward its employees who have led the company’s growth over the years, fostering a sense of ownership across all levels of the organization. The move will provide an opportunity to create wealth for the insurgents who have been employed as kitchen workers, riders, runners, management teams and corporate employees across India, UAE and UK. By making employees an angel and sharing the Rebel Spirit, the company aims to inculcate an entrepreneurial culture and empower its workforce to achieve shared success.

“At Rebel Foods, we believe that every employee is an owner in the company and that the team that sticks together and works together wins. We are proud of each employee and value their contribution and belief in the company,” said Ankur Sharma, Co-Founder of Rebel Foods. “Through the ESOP program This, we aim to democratize wealth creation for our team and recognize their passion, customer focus and performance. We will continue to create similar opportunities in the future while rewarding our employees for their hard work, contribution and belief in Rebel’s vision and mission.”

The foodtech unicorn also recently announced a liquidation program of ESOPs for existing equity holders, for the second year in a row. Through this program, current and former Rebel Foods employees have been given the opportunity to filter their options earned this year. Under the ESOP by Rebel Foods, employees may liquidate their shares once in a one-year period. The company sets aside a pool of funds each year to enable this liquidation so that employees can enjoy the benefits of ownership.

ESOPs or employee stock ownership plans are investments in company stock that the company gives to employees. In these uncertain times as it faces challenges across sectors, Rebel Foods said it presents a significant, long-term opportunity to create wealth for all of its employees across the company. The move comes as part of several first announcements for the company this year, becoming the first food tech company to obtain exclusive franchise rights to the world’s second largest burger chain both online and offline, and Wendy’s to become the first player in its category to sponsor the entire dining experience at the stadium in partnership with the Royal Challengers. Bangalore during the IPL season.

The company competes with players such as Curefoods, Biryani By Kilo, Box8 and FreshMenu. It has raised total funding of about $564 million from investors such as the Qatar Investment Authority (QIA), Coatue, Evolvence and Sequoia.

Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods includes brands such as Faasos, Behrouz Biryani and Ovenstory Pizza. Other brands include Mandarin Oak, The Good Bowl, SLAY Coffee, and Sweet Truth. With more than 450 kitchens in 70 cities, Rebel Foods has developed its complete technology – the Rebel OS by which many brands are launched and scaled in a short period. With Rebel Launcher, powered by Rebel OS, the company has launched more than 25 brands. Rebel Foods currently operates 45 brands in multiple countries.