wordpress blog stats
Connect with us

Hi, what are you looking for?

, , , ,

Web18 Hands Out ESOPS; When And Where Will They List?

Web18, the Internet company from the Network18 Group has given some of its employees the option of signing up for the Employee Stock Options Scheme, MediaNama has learned from multiple sources. On being contacted, Surya Mantha, CEO of Web18, declined to comment on the development, or ratify some of the details that we have been told about. According to our sources in Web18, employees are allowed to sell 25% of their holding each year. The shares are being given at a face value of $1 each.  In case they leave the company, the remaining options will lapse.

The options will be worth something only if Web18 goes in for an IPO, which is what they have been building up to for the last couple of years. They’ve bet big on their aggergator In.com, and have been in “investment mode”, registering losses for the past few quarters. There were reports last year of Web18 looking at diluting 10-15% via an American Depository Receipt (ADR), and the word is that the company was valued then at around $1 billion. But with the global recession looming large, a listing would be on the back-burner. So then is Web18 offering ESOPS in order to retain employees?

We weren’t able to glean how much of Web18’s share capital has been allocated to employees, but we’re told that a very small percentage of the shareholding has been given as ESOPS, and mainly to senior employees. Please note that Web18 has declined to confirm or deny these developments.

In 2006, the company had raised $10 million from Tracer Capital. In October last year, Web18 exited its brokerage joint venture with Ambit Corporate Finance and the erstwhile Centurion Bank of Punjab.

Some ESOP success stories were covered at VentureWoods: OnMobile Global and Quasar Media

— Q1-09 Results: Web18 Reports $1.8 Million Loss; Revenues At $3.1 Million
— Web18 Q2 Losses Triple To Rs. 24.2 Crores In A Quest For The No.1 Spot

Advertisement. Scroll to continue reading.

Disclosure: I own a few of shares of Network18 Fincap

Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...


Releasing the policy is akin to putting the proverbial 'cart before the horse'.


The industry's growth is being weighed down by taxation and legal uncertainty.


Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ