Browserstack buys back ESOPs worth $50 million
As part of its constant endeavor to assist employees in their wealth-building journey, mobile and app testing platform BrowserStack has repurchased employee stock ownership plans (Esops) worth $50 million (about Rs 365 crore).
This is the company’s second funding round this year; in June, Bond Capital and Insight Partners led a $200 million round at a $4 billion valuation.
Ritesh Arora, co-founder and CEO of BrowserStack, said, “The exponential growth observed by BrowserStack has been made possible because of the resilience and passion of our staff.” “We grow when our people flourish, and we want to thank them for being such an important part of our success.”
BrowserStack intends to go public in the future, but for the time being, it wants to become the world’s largest testing platform, with a 50 percent market share.