Rapid grocer Gopuff is issuing equity and an ownership stake to 1,400 employees in the UK.
The GoStock Equity Programme is rolling out in the UK as a “direct acknowledgement” of its staff’s “continued efforts”, the quick-commerce player said.
“As part of our commitment to the UK market, we believe it’s essential that all Gopuff employees share in the ownership of the business,” the company told employees in an internal memo.
“With this new program, our eligible frontline employees and workers will receive equity and an ownership stake of the company,” it continued.
Last month Gopuff confirmed the UK would become the priority overseas market for the US q-commerce player, after it was revealed the company would be pulling out of Spain.
The region had experienced “significant growth” Gopuff said, with revenue increasing at a 30% compound monthly rate with 10 times growth in orders since launch.
The company told The Grocer the amount employees and workers receive in stock options will “vary based on several factors” but they “will be valued in the range of thousands of pounds”.
In March, Gopuff said it was to cut 3% of its global workforce, a figure which was raised to 10% – around 1,500 workers – in July.
Last month, The Wall Street Journal reported Gopuff – which raised around $2bn in funding rounds last year – was looking to borrow up to $300m in a revolving credit line.
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