This Indian start-up company paid its first employee an amount of 50 lakhs! Find out how

Startups have been paving the way to millions of dreams to come true. Especially in India, they have progressed and reached a level to support many families. Similarly, this peon who devotedly worked at Citrus Pay and earned rupees 8,000/- a month went on to receive 50 lakhs and is all set to take his family on a vacation!

Shyam Kumar along with his family are migrants from Uttar Pradesh who now lives in the slums of Malad in Mumbai. 10 people live under the roof of this small 10×10 room where they use a curtain to separate the room into halves to be able to sleep comfortably in the house.

Credits: Yourstory.com

Back in 2010, Shyam was looking for a job and he took help from his younger brother to find a job. He finally got the job in Jitendra Gupta’s startup Citrus Pay and started working as a loyal peon there!

Shyam who had to drop out of school because of his father’s ill health had been struggling to find jobs when he finally joined Citrus Pay. He was the first employee who was very loyal. He spent hours at work trying to understand the company’s procedures and the idea of ESOP, an equity-based compensation plan that Jitendra often tried explaining to him.

Credits: moneycontrol.com

Over time Citrus Pay grew to a higher level due to immense funding by companies like Sequoia Capital, Ascent Capital, eContext Asia, and Buenos Asia and it even acquired bigger clients like Indigo, GoAir, and Amazon. The turning point for the company was when PayU acquired Citrus Pay for $130 million in September 2016.

Due to ESOPs, Shyam and his wife were shocked to receive 50 lakhs credited to his account for being associated with the startup. He even has health insurance now.

Credits: moneycontrol.com

With this amount, he wishes to do something for his family and his plans are all set. From shifting into a new house to planning a trip to Goa, Shyam enjoys the feeling of seeing their family satisfied and happy! It is wonderful to see how Indians don’t fear to get into startups and are advancing with time to make a better India!

 
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