Head Digital Works, India’s leading skill gaming platform, today announced the successful completion of its first-ever employee stock options buyback program. Among the eligible ESOP holders, ninety-seven percent opted to sell a part of their vested ESOPs as part of the program. In total, nearly half of the company’s current 500+ employee base benefited from the buyback.
Despite the challenging environment, the company decided to pursue this initiative and complete a buyback of US$3M to reward its employees’ efforts and loyalty.
Speaking about the landmark move Deepak Gullapalli, CEO & Founder, Head Digital Works said, “Despite the current challenges in the industry, we have been mindful of our operations and are focused on ensuring stability and growth. With this ESOP buyback, we want to thank our employees for their dedication and hard work. This is the first in our 18-year history, and with more to follow, it demonstrates our commitment to long-term wealth creation for our employees.”
This marks an important milestone in the history of the company which has over 70 million registered users across its marquee brands ‘A23’ and ‘Cricket.com’, and reflects the company’s commitment to creating value for its employees and recognizing their unwavering dedication.
