WinZO, announces the completion of its fourth round of Employee Stock Options Plan (ESOP) liquidation.
This initiative allows eligible employees, approximately 30 per cent of WinZO’s workforce, comprising team members with at least two years of tenure, to liquidate their vested ESOPs.
In the last 12 months, the company has filed more than 25 technology patents across the world for its super computing technology, real-time communication innovation, and AI applications in content creation.
The buyback is part of WinZO’s strategy to attract and retain global tech- product talent, particularly as a pivot to balance against the dampening of a 400% increase in Goods and Services Tax (GST), which places it alongside “sin” sectors like casinos and horse racing.
WinZO recognizes that high-skilled and high-productivity talent is the single most critical asset for the consumer tech industry that gaming forms a critical gateway to. If the sector loses its top technology talent, it will be difficult for India’s consumer tech to maintain the innovation and growth momentum.
“At WinZO, we believe our talent is our greatest asset, and this ESOP buyback program reflects our commitment to celebrating innovation,” said Saumya Singh Rathore & Paavan Nanda, Founders of WinZO.
“Despite the evolving challenges in the gaming industry, particularly recent taxation changes, our focus remains on supporting our team, creating growth opportunities and innovating to work towards leadership in the globally $300 billion market, that today India claims only 1% off.
We reinforce India’s talent with their belief in the long-term potential of the gaming sector. Together, we are building a global consumer tech company proudly made in India for the world.”
In concluding the fourth consecutive annual ESOP buyback, WinZO has gone beyond the financial mandate to reaffirm and demonstrate its unflinching commitment to nurturing talent, fostering innovation, and driving growth in the gaming industry.
The sector needs to go beyond the traditional ways of attracting and retaining talent since building a high-productivity talent pipeline for a sunrise sector is a multi-year and resource-intensive activity. When the sector comes out from the shadow cast by the GST hike and conflation with “sin sectors”, this initiative would have played a critical role in weathering the storm of churn in the talent pool.
This initiative recognizes the exceptional efforts made by the WinZO team in creating world-class products for both Indian and global markets.
This move furthers WinZO’s vision of becoming the first truly global consumer tech company made in India and widening the talent pool for the Indian consumer tech and startup ecosystem.
The Indian gaming sector, currently valued at USD 3.1 billion, is projected to grow at a 14% Compound Annual Growth Rate, reaching USD 6 billion by 2028 (India Gaming Market Report 2024). If India increases its market share to 20%, in line with its global user base and app download share, by 2034, the sector could represent a USD 60 billion opportunity.
By targeting USD 60 billion opportunity, the gaming industry can also increase the employment generation by 20X, adding over two million jobs to the Indian economy from this sector alone.
