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25,000 former and current Flipkart group employees likely to benefit from $700 million cash payout

At least 25,000 current and former employees of Walmart-owned e-commerce major Flipkart will likely benefit from its $700 million one-time cash payout, making it one of the largest instances of wealth creation in India's thriving startup space.

Flipkart's bonanza comes at a time when most startup employees have had a tumultuous 2022, as the heydays of funding and fat pay hikes gave way to sobriety and a reality check, as investors turned cautious. This will undoubtedly include former and current employees of Flipkart, Myntra, and PhonePe, according to the sources cited above. Flipkart announced last week a one-time discretionary cash payout of up to $700 million to nearly 25,000 former and current employees who hold employee stock options.

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