Snapdeal founders pledge $30 mn of payout for staff

Value of Snapdeal shares and options has eroded and will be nil once the deal is signed

In a first for an e-commerce company, Kunal Bahl and Rohit Bansal, co-founders of online marketplace Snapdeal, are planning to give $30 million, roughly Rs 193 crore, to the existing and some former employees from their own payout once the company’s sale to Flipkart is through.
 
According to sources, the 1,200-odd employees left at Snapdeal will get from the co-founders half the $60 million payout SoftBank will pay Bahl and Bansal for their 6.5 per cent stake in Snapdeal. The co-founders, along with other directors including early investors Kalaari Capital and Nexus Venture Partners, agreed last week to SoftBank’s