Rahul Chari and Sameer Nigam founded PhonePe in 2015 and is the CEO of the fintech company.
Flipkart has reportedly credit 700 million dollars (Rs 5745 crore) in its employees' accounts as part of the company's ESOP buyback plan. Group CEO Kalyan Krishnamurthy informed about this to its employees in an internal email. The company has paid Rs 3615 per ESOP share. He said in an email that the details of such payments will reach the employees the next week. More than 24000 individuals are eligible for the payment. It is part of PhonePe's funding round after it separated from Flipkart group. PhonePe was acquired by Flipkart. Last year, it demerged from the e-commerce major.
PhonePe founders Sameer Nigam and Rahul Chari are likely to be the biggest gainers in this round. The Economic Times reported last week the duo stand to make up to 25 million dollars each. This translates into Rs 410 crore in total. The two individuals will completely liquidate their stock options in the former parent company. PhonePe was acquired by Flipkart in 2016.
Who are Sameer Nigam and Rahul Chari?
Sameer Nigam founded PhonePe in 2015 and is the CEO of the fintech company. He was a senior official at Flipkart before launching the company. This was the second company he founded that was acquired by Flipkart.
Rahul Chari is the CTO of PhonePe. He is also the co-founder of the company. He has over two decades worth of experience. He was the vice president of engineering before he founded PhonePe. He did his engineering from the University of Bombay. He was a gold medalist. He did his master's degree in computer science from the University of Purdue, USA.
Last year, PhonePe raised 350 million dollars funding at a valuation of 12 billion dollars (Rs 98,492 crore).
The life story of Rahul Chari is very interesting. He cracked IIT-JEE and got admission to IIT Bombay. But he chose to join the University of Mumbai as he wanted to study computers.
His father is an architect and civil engineer in Muscat. He is a bookworm. Rahul Chari loved mathematics and physics. He also loved to play PC Games.
He got into IIT Mumbai's Civil Engineering program. But he instead went to the Mumbai University. He got his first computer in 1995. He met Sameer Nigam at college.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Rahul Chari is the CTO of PhonePe. He is also the co-founder of the company. (File)")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}