This Christmas at OnBuy is all about their employees as the marketplace gives a massive £1 million stake in the business. Over £1 million in granted share options will be offered to OnBuy staff, giving them the opportunity to be direct beneficiaries of the company’s future success.
To recognise the commitment and hard work that has won the company numerous accolades in the business community, each employee at OnBuy will be rewarded with share options in the company equivalent to around 25% of their annual income that can be exercised during any liquidity event. With an anticipated IPO in the next two years, staff are set to benefit sooner rather than later. OnBuy, which is on track with their target to be UK’s next tech unicorn, recorded 200% revenue growth in the last 12 months.
Even the lowliest employee at OnBuy will be getting share options and there are over 100 staff on the books that will benefit and when the IPO comes around they could become very wealthy indeed, the 25% of salary is likely to be worth many multiples by the time the share options are exercised. Christmas at OnBuy really has come early!
“At OnBuy, we do the right thing by our retailers and customers, so it’s natural that we would do the right thing by our staff too – and we don’t believe any employee should have to be in the boardroom to benefit from company growth. Ecommerce is a fast-paced 24 hour business and many firms have been in the spotlight recently for poor working practices and in some cases, downright abuse of staff. Frankly this is unacceptable and at OnBuy, we are committed to creating a fair and transparent working environment for all. We want to show that working for an ecommerce giant can be a hugely positive experience and our team is absolutely vital to our future success. We want to reward hard work financially, showing employees that they aren’t just a cog in the machine.”
– Cas Paton, CEO & Founder, OnBuy
