Headline : 39 employee owners at EazyDiner just became millionaires, from the driver to the CEO!
We have just paid out the first tranche of 2 crores to our team members at EazyDiner. And this is just 5% of the ESOP Trust sold which has shares worth 40 crores at the last valuation round ( we believe we are double the value today, so more like 80 crores today just for our team). We are maybe amongst the first ones in hospitality to offer shares to everyone regardless of your rank or position in the company( minimum of 4 years at the company to be a shareholder, we are completely biased towards people playing for the long term).
I have attended so many talks on people retention, why people in hospitality work so hard but are not paid as much, but no solutions, it’s a great discussion followed by wine and then forgotten. We had a clear vision to address this problem.
At EazyDiner, we consider ourselves a restaurant and hotel company enabled by technology which then allows us to undertand the problems and issues faced by both restaurants and consumers. And that is why we are the largest eating out platform today,more than double the size of anyone else. Not only do we send diners to restaurants but we send the most premium customers and have an average order value or over Rs 4,000 per table.
But this post is not about what a great business we have, but for the people who quit secure jobs to come and work for a start up, and worked long enough to forget that they owned shares in the company, the team which persisted and survived through Covid, who saw the depth of desperation that we had when restaurants were closed and who are now enjoying the fruits of their hard work when we became the largest player in eating out.
Wealth creation cannot be for the CEO or top management only, it has to be decentralised and everyone needs to win. Maybe too altruistic a mission, but Infosys did it many years back.
To the most amazing people that I work with and all our banking and restaurant partners, thank you so much. We will continue to deliver value for each and every stakeholder.
And if you are still considering joining a crazy, hard working company which is wired to win and currently work in hotel sales or operations or in a consumer internet company in product, technology or growth marketing but are wanting to either turbo charge your career or risk failing, then drop me a line at [email protected]. We hire for initiative, passion and committment.
And a final toast to our team at EazyDiner. You are unbeatable and unstoppable. And to many more hundreds of people at EazyDiner to join the stock option plan. We don’t have employees in EazyDiner, we only have owners.
Welcome to a new way of working! We are constantly changing the world around you.
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11moIt's look so beautiful chef ♥️♥️♥️