Key Points
Audio entertainment platform Pocket FM announced the completion of its first Employee Stock Ownership Plan (ESOP) buyback worth $8.3 million on April 1..
"This emphasises our continued commitment to acknowledging the efforts of our teams, and we're pleased that despite the challenging economic conditions, we remain unwavering in offering opportunities for wealth creation and fostering a culture of growth within Pocket FM," co-founder Rohan Nayak said...
The announcement follows Pocket FM's recent achievement of raising $103 million in Series D funding, valuing the company at $750 million in March...
Pocket FM, established in 2018 by Nayak, Prateek Dixit, and Nishanth Srinivas, boasts a vast library of content, including over 100,000 hours of diverse audio content..
Pocket FM aims to achieve a global annual revenue rate (ARR) of $100 million by 2025 through this novel reading platform and its other services..
