Come December, employees of the Indian eCommerce firm, Flipkart, will return to the office three days a week. By then, the Company hopes to achieve 100 percent vaccination of its workforce and a shift to the hybrid model.
Most of the 16,000 full-time employees of the firm have been working from home since March 2020. The process of inoculating the employees was started by the Company in May 2021, with the frontline employees being covered first. The cost of vaccination of all the employees of Flipkart and Myntra is being covered by the Company.
Meanwhile, Flipkart has managed to raise funds to the tune of $3.6 billion at a valuation of $37.6 billion. Not surprisingly, Kalyan Krishnamurthy, CEO, Flipkart, calls it “the most significant investment in the digital e-commerce ecosystem in India.’
The fresh funding round was led by Singapore-based sovereign wealth fund, GIC, the Canada Pension Plan Investment Board, SoftBank Vision Fund 2, and Walmart. Investments also came in from Qatar Investment Authority, Malaysia’s Khazanah Nasional Berhad, and DisruptAD.
Krishnamurthy has also announced the Company’s intention to buy back five percent of the past three years’ vested options.
The ESOP buyback, worth Rs 600 crore, will benefit 6,000 employees ahead of the Company’s public listing in the US, which is expected to take place in the next one or one and a half years.