Matrimony and wedding services startup, Betterhalf has announced the second ESOP buyback to its employees. This is expected to benefit around 29 current and former employees, which majorly held prominent positions in the company, according to the company.
Betterhalf claims to have a wide network of 30,000 partners in its platform, especially 750 venue partners in Bengaluru. Keeping the larger revenue interests of Indian marriage market in concern, it would soon launch its services in the national capital, Delhi.
In the past year, Betterhalf offered its first ESOP buyback benefitting around seven employees. However, current move is touted to be significant as it has recently registered montly revenue of USD 500,000.
The platform successfully managed to raise USD 8.5 million in Series A funding in March this year. The funding had participation of Finsight Ventures, Mike Krieger (Co-founder of Instagram), Arash Ferdowsi (Co-founder of Dropbox), Rebel Fund, Nurture Ventures, Leonis Investissement, Derek Callow (ex-CMO of Bumble), Scott Belsky (Founder of Behance), Brendan O’Driscoll (ex-Product Head of Spotify), Manik Gupta (ex-CPO of Uber), Punit Soni, (ex-CPO of Flipkart), and Ravish Naresh (Co-founder and CEO of Khatabook).
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