7 months ago
BrowserStack Announces $125 Mn Share Buyback
BrowserStack, a company that helps developers test their websites and apps, is giving back to its team and early supporters.
They've announced a $125 Mn share buyback, which means they're buying back shares from employees and investors.
This is their third buyback, and it will help over 500 people, including current and former employees.
The company has been profitable since it started in 2011 and has over 21 products.
They're also looking to buy more companies to grow their market.
BrowserStack became a unicorn in 2021, which means it's worth over $1 billion.
They've raised about $250 Mn from investors and are now based in Ireland but moving to India.
BrowserStack announces a $125 Mn share buyback, benefiting 500+ employees and early investors.
This is the company's third buyback, with cumulative buybacks reaching $275 Mn.
BrowserStack has been profitable since its inception in 2011 and offers over 21 products.
The company is looking to acquire more developer tool startups to consolidate the market.
BrowserStack became a unicorn in 2021 and has raised about $250 Mn from investors.
- Who
- BrowserStack, a SaaS unicorn
- What
- Announced a $125 Mn share buyback
- Where
- Global, with operations in Ireland and India
- When
- Details to be rolled out in the coming weeks
- Why
- To provide liquidity to employees and early investors, and to foster a sense of ownership
Key facts
- Company
- BrowserStack
- Buyback Amount
- $125 Mn (INR 1,125 Cr)
- Cumulative Buyback
- $275 Mn
- Beneficiaries
- 500+ current/former employees, early investors
- Founded
- 2011
- Founders
- Ritesh Arora, Nakul Aggarwal
- Products
- 21+
- Unicorn Status
- 2021 (Series B, $4 Bn valuation)
Quotes
Ritesh Arora
Co-founder and CEO of BrowserStack
“"We started in a small coffee shop with a simple idea, and the people who joined us early on are the reason we are here today."”
theprint.in
“"Seeing our team members build their lives and futures alongside the company is the most rewarding part of building together. As we scale AI-driven innovation, we want our team to feel the same ownership and pride that Nakul and I do every single day."”
theprint.in
Sources
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