OnBuy has revealed that it will be rewarding its entire workforce with over £1m in share options in the run up to Christmas, in recognition of its consistent growth as it prepares for international expansion.
The announcement follows unparalleled year-on-year growth in November – when Black Friday sales (GMV) increased by 25% year-on-year – and a further 200% revenue growth over the last 12 months.
More than 100 employees will benefit from the option to own a stake in the online marketplace, with shares equivalent to around 25% of their annual income – totalling more than £1 million in granted share options.
The shares can be exercised during any liquidity event and with an anticipated IPO in the next two years, staff are expected to benefit sooner rather than later.
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Cas Paton, ceo and founder of OnBuy said: “We do the right thing by our retailers and customers, so it’s natural that we would do the right thing by our staff too – and we don’t believe any employee should have to be in the boardroom to benefit from company growth.
“We want to show that working for an e-commerce giant can be a hugely positive experience and our team is absolutely vital to our future success. We want to reward hard work financially, showing employees that they aren’t just a cog in the machine.”