Yellow.ai, a startup in conversational AI, releases an ESOP valued $43 million
Currently employing over 900 people worldwide, the company intends to increase its footprint in India, Southeast Asia, and the Middle East while also entering Australia, Japan, Africa, the US, the UK, and Europe.
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On October 18, Yellow.ai, a platform for enterprise-grade conversational AI, revealed that it is implementing an Employee Stock Ownership Plan (ESOP) worth $43 million for its entire global workforce.
The start-up with its headquarters in California will give its employees more flexibility by extending quarterly vesting after a one-year cliff period, in addition to a competitive ESOP.
Currently employing over 900 people worldwide, the company intends to increase its footprint in India, Southeast Asia, and the Middle East while also entering Australia, Japan, Africa, Latin America, the US, UK, and Europe.
Yellow.ai's CEO and co-founder Raghu Ravinutala stated, "Our staff have played a crucial part in attaining Yellow.ai's exponential growth globally. In keeping with our pledge to put our people first, we are democratising wealth creation for them in order to recognise their significant contribution to this upward trajectory.
"At the same time, we want to empower our people to realise their individual aspirations and support the company's business objectives," he continued. We are certain that doing so will encourage increased responsibility, make it easier to find and hire the best talent, generate wealth for our staff, and more successfully carry out our long-term strategy.
The ESOP is a component of the company's 360-degree experience effort, which focuses on incentives and recognition, learning and development, wellness, and employee wealth creation opportunities holistically.
"We are committed to offering the finest chances for our current employees and attracting future talent that will strengthen Yellow.ai's position as a market leader," said Neeru Mehta, chief human resource officer at Yellow.ai. Adopting a people-first approach is essential today in the face of complex global shifts like the Great Resignation and the Great Reshuffle, and we are proud to introduce an employee-centric programme that not only accelerates growth but also makes it simpler for employees to participate in the journey.
