All OnBuy staff were granted stock options in the run-up to Christmas, after unmatched year-over-year growth in November.
The e-commerce market OnBuy, which has seen 200% revenue growth over the past 12 months, seeks to maintain its impressive momentum by offering all of its 100+ employees the opportunity to grow as well, with the ability to grow. ” have a stake in the company.
Cas Paton, CEO and Founder of OnBuy said: “At OnBuy, we do the right thing for our retailers and our customers, so it’s only natural that we do the right thing for our people as well – and we think that no employee should have been in the boardroom to benefit from the growth of the company.
The news follows a hugely successful month for the online market, reporting that GMV over the infamous Black Friday weekend grew 25% year-on-year, despite the retail sector posting an overall decline. during the same period. Continuing to show steady growth, the reward of fairness to its employees comes at a pivotal time for the company as it prepares for international expansion.
Over £ 1million of stock options granted will be offered to OnBuy staff, giving them the opportunity to be the direct beneficiaries of the company’s future success. Founded by British entrepreneur Cas Paton in 2016, the UK-based marketplace offers retailers an alternative to Amazon to sell their products.
To reward the commitment and hard work that have earned the company many accolades in the business world, each employee will be rewarded with company stock options equal to approximately 25% of their income. annual, which may be exercised during any liquidity event. With an IPO slated for the next two years, staff should take advantage of it as soon as possible.
Cas Paton added, “E-commerce is a fast-paced, 24-hour-a-day business and many companies have recently come under the spotlight for poor work practices and, in some cases, for egregious abuse. staff. Frankly, this is unacceptable and at OnBuy we are committed to creating a fair and transparent work environment for everyone. We want to show that working for an e-commerce giant can be an overwhelmingly positive experience and that our team is absolutely vital to our future success. We want to reward hard work financially, by showing employees that they are not just a cog in the machine.
OnBuy has grown its team to over 100 talented members, resulting in a relocation to new, larger offices in Bournemouth. With goals firmly focused on international expansion in the coming months as well as the launch of a much anticipated mobile application, the company is poised to continue to grow, with many vacancies and a number of new ones. ‘commercial milestones to be announced soon. .