BlackBuck ESOP holders have a reason to rejoice

Employees of Zinka Logistics Pvt Ltd, the company behind online marketplace for logistics BlackBuck, made nearly 11X returns within a year by liquidating certain part of their employee stock options (ESOPs). 

This follows an ESOP Repurchase Plan announced by the company recently which provided an opportunity to liquidate a certain part of their stock options. The buyback provided 11X returns within the one-year time window, for people who exercised this option. 

The entire process has been completed, and the payment is made to the employees who opted for it, the company said in a statement.

The early timing of the BlackBuck ESOP repurchase plan coupled with the opportunity to liquidate at the market price instead of a discounted price made this a unique event in the start-up circles.

As a philosophy, the compensation at BlackBuck weighs more on stock options than cash, providing people opportunities for wealth creation along with the company. The company started with a large ESOP pool at the time of incorporation and continues its commitment to award its people with more options as the company grows.

Shilpi Pandey, Head – HR, BlackBuck said “The plan was highly appreciated by employees where they saw an opportunity to unlock the latent value in ESOPs. It also demonstrated the organization’s intent to grow employees along with the organization. Our strong focus has always been on rewarding high performance and organizational contribution. We believe in creating long-term value for the employees through a variety of means and ESOP is a strategic tool in this direction”.

Anand Daniel, Partner, Accel said, “It is heartening to see an early stage startup wanting to extend additional benefits to its employees. BlackBuck is a team of high energy, smart and aspirational individuals who are making a meaningful contribution to the future of freight. It is an organization where employees are rewarded for their hard work and dedication; hence, cultivating a more engaged culture. Within 2 years of operations, BlackBuck has established itself as a strong player which is determined to revolutionize freight. We are delighted to be BlackBuck’s partner in this journey”.

Blackbuck (Zinka Logistics) has raised a total sum of $100 Million and Tiger Global, Accel Partners, Flipkart, Apolleto Asia LTD, IFC, Sands Capital are its investors. It has over 125,000 trucks empanelled on the platform, operating in over 300 locations. Currently, it has over 400 customers including SME’s and large corporates like Coco-Cola, ITC and HUL.

BlackBuck, registered under Zinka Logistics Solutions Pvt. Ltd was founded in 2015 is an online B2B marketplace for logistics transactions, based out of Bangalore. With a strong leadership pool from top companies in industry and consulting (like ITC, Mondelez, DHL, Wipro, McKinsey, Booz, Accenture) and leveraging cutting-edge technology, BlackBuck is redefining the logistics landscape of India, making it reliable and efficient. BlackBuck brings truckers and customers on a platform to execute the transaction using intelligent auction engines offered by smart mobile interfaces. Integration of technology with on-ground execution helps add reliability to the overall process.