 "Ankur Sharma, Co-founder, Rebel Foods")
Rebel Foods, the world’s largest internet restaurant company distributed ESOPs (employee stock ownership plan) to its over 5000 employees in more than 350 kitchens and corporate offices. With this round of distribution, the total ESOPs value held by Rebel employees now reaches Rs 550 crore ($65 million).
With this ESOPs distribution activity, Rebel Foods is one of the first foodtech companies in India to distribute its ESOPs at such a wide scale across all levels and regions.
Rebel Foods said it aims to acknowledge the efforts and reward its employees who’ve led the company's growth over the years, strengthening the sense of ownership across all levels of the organisation. This move will allow a chance for wealth creation for Rebels employed as kitchen staff, riders, runners, administrative teams and corporate staff across India, UAE, and the United Kingdom. By making employees owners and sharing the Rebel Spirit, the company aims to cultivate a culture of entrepreneurship and empower its workforce for shared success.
“At Rebel Foods, we believe that every employee is an owner in the company and it is the team that sticks together and works together that wins. We are proud of each and every employee and we appreciate their contribution and faith in the company,” said Ankur Sharma, co-founder of Rebel Foods. “Through this ESOP programme, we aim to democratise wealth creation for our team and recognize their passion, customer centricity and performance. We will continue creating similar opportunities in the future while rewarding our employees for their hard work, contribution and belief in Rebel’s vision and mission.”
The foodtech unicorn also recently announced its ESOPs liquidation program for existing holders, for the second year in a row. Through this programme, Rebel Foods' current and former employees were given an opportunity to liquidate their vested options this year. Under the ESOP program by Rebel Foods, employees can liquidate their shares once in a one-year period. The company has set aside a pool of funds every year to enable such liquidation so that the employees can enjoy the benefits of ownership.
ESOPs or employee stock ownership plans are investments in a company’s shares given to employees by the company. In these uncertain times where challenges are faced across sectors, Rebel Foods said it is offering a significant and long-term wealth creation opportunity to all its employees across the company. This move comes as a part of the many first announcements by the company this year, becoming the first foodtech company to acquire the exclusive franchise rights for online and offline of the world’s second-largest burger chain, Wendy’s to becoming the first player in its category to curate the entire food experience at a stadium with a partnership with Royal Challengers Bangalore during the IPL season.
The firm competes with players such as Curefoods, Biryani By Kilo, Box8, and FreshMenu. It has raised a total funding of about $564 million from investors such as Qatar Investment Authority (QIA), Coatue, Evolvence and Sequoia.
Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods houses brands such as Faasos, Behrouz Biryani and Ovenstory Pizza. Other such brands include Mandarin Oak, The Good Bowl, SLAY Coffee and Sweet Truth. With over 450 kitchens across 70 cities, Rebel Foods has developed its full-stack technology - Rebel OS through which multiple brands are launched and scaled up in a short period. Through the Rebel Launcher, powered by Rebel OS, the company has launched over 25 brands. Rebel Foods currently operates 45 brands across multiple countries.
