Betterhalf, a startup that offers wedding and matrimonial services, has announced its second ESOP buyback, from which 29 current and former employees will benefit. This announcement builds on last year’s first buyback, which helped seven employees.
The development comes from the company generating $500K in monthly revenue.
“We encourage an entrepreneurial work style among all our employees, providing them with ownership for their respective work areas, which has led to almost zero attrition. And this year’s ESOP buyback is a testimony to these efforts,” said Pawan Gupta, Co-founder and CEO of Betterhalf.
Betterhalf is a matrimonial startup that uses artificial intelligence to connect people looking for life partners. It was founded in 2016 by Pawan Gupta and Rahul Namdev. The startup claimed to have supported over 100 weddings.
Betterhalf has 30,000 partners on its platform, including 750 venue partners in Bengaluru. The startup will soon launch in Delhi to enhance its presence in the Indian wedding market.
“Our vision is to revolutionize the Indian wedding industry by offering customers a selection of venues and non-venue service providers for seamless on-ground fulfillment,” said Rahul Namdev, Co-founder and CPTO of Betterhalf.