Purplle raises $120 Mn to buyback ESOPs worth $6 Mn


Online based beauty and grooming products marketplace Purplle has raised Rs 1,000 crore (approximately $120 million) in a round led by a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) with participation from other investors. According to report company has not disclosed the valaution of this round.

In addition to the funding round, Purplle has announced its largest-ever employee stock ownership plan (ESOP) liquidity program worth Rs 50 crore ($6 million). As per the company, it has granted ESOPs to 320 employees to date, and 85 of them have liquidated ESOPs worth Rs 75 crore ($9 million) over three buyback programs.

In June 2022, Purplle raised $33 million in its Series E round from South Korea’s Paramark Ventures and turned unicorn with a valuation of $1.1 billion.

Purplle claims that it is operationally profitable and has grown its GMV by around 4x over the last three years. It expects to grow its online platform faster than the industry while scaling offline stores and improving profitability.

For the fiscal year ending March 2023, company reported Rs 475 crore in operating revenue along with a loss of Rs 230 crore, according to startup data intelligence platform TheKredible. In the previous fiscal year (FY22), its revenue and losses stood at Rs 219 crore and Rs 203 crore, respectively.

This will be the second secondary transaction for platform within a year.





Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top