List of companies we are working with. Shall you need any last mile delivery or would like to test your customer discovery assumtions by offering them instant delivery. An employee stock ownership plan (ESOP) is an employee-owner program that provides a company's employees with an ownership interest in the company. In an ESOP, senden24 provide their employees with stock ownership at no upfront cost to the employees. ESOP shares are vested, which means the person is gained the right for shares after a certain amount of time worked in the company. Shares are allocated to employees and may be held in an ESOP trust until the employee leaves the company. Since the traditional ESOP scheme is linked with IPO and senden24 considers ICO, we also consider converting ESOP into tokenised options linked to the smart contracts.
Current ESOPs give employees an illiquid asset. Only in an exit employees can convert their options to shares, and earn some money. In particular, for early stage employees this is a long ride — it takes about 5–10 years to build and sell a startup. Considering the regular size of equity piece represented by ESOP, combined with the waiting time until materialisation, the intended incentive becomes quite weak. Making ESOP liquid substantially changes this! Tokenised ESOP allows for a liquid asset position, thanks to which employees can make money before the exit, simply through trading of vested options on exchanges like Kraken or Poloniex, or through converting the options in an ICO. Another often criticised feature of ESOP is the lack of transparency. Often employees have not enough information to evaluate the offer they receive. This lack of transparency exists on two levels. Within a particular plan, it is hard to say how much stock an employee holds — cap tables are convoluted and not always available for inspection so it is impossible to translate given amount of options into percentage of equity owned. There is also lack of transparency on the level of the whole industry — employees have no way to compare different deals — there is no market that would tell what is a fair offer in a given situation. This asymmetry of information and intransparency results in significant reduction of intended incentivation and retention. Tokenised ESOP on Blockchain provides full transparency for beneficiaries under ESOP, and a visible algorithm for distributing ESOP to employees. Detailed article on this subject from the founder of Nuefund (Blockchain-based VC Found).