SUMMARY
- WinZO has completed its fourth ESOP buyback round, enabling 30% of its workforce to liquidate vested options.
- The startup has filed over 25 technology patents and offers more than 100 games across multiple categories.
- WinZO’s revenue surged to ₹674 crore in FY23, with significant investments in marketing.
Online gaming startup WinZO has successfully concluded its fourth round of employee stock options plan (ESOP) liquidation, allowing approximately 30% of its workforce to liquidate vested ESOPs. This initiative targets eligible team members who have been with the company for at least two years, highlighting WinZO’s commitment to employee engagement and retention.
Since its establishment in 2018, WinZO has expanded its offerings to include over 100 games across various categories, such as strategy, sports, casual, card, arcade, racing, action, and board games. The company has also been active in innovation, filing more than 25 technology patents globally in the last 12 months. These patents encompass advancements in supercomputing technology, real-time communication, and AI applications in content creation.
In previous years, WinZO conducted three rounds of ESOP liquidation in 2021 and 2023. With a workforce of 200 members, the company has raised a total of $100 million in funding from prominent investors, including Griffin Gaming Partners, Maker’s Fund, Courtside Ventures, and Kalaari Capital.
Financially, WinZO has shown significant growth, with revenue from operations skyrocketing to ₹674 crore in FY23, up from ₹234 crore in FY22, according to data from the intelligence platform TheKredible. Similar to many online gaming platforms, WinZO allocated a substantial portion of its total expenditure—46%—to marketing and promotions, which increased by 29.6% to ₹258 crore in FY23.
The trend of ESOP buybacks among Indian startups continues, with companies like Whatfix recently launching a $58 million liquidity program for employees and investors. Other firms, including Swiggy, Urban Company, and MyGate, have also participated in ESOP buyback initiatives in the current calendar year.
