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Home > Founder Thesis > ESOPs Aren't Monopoly Money, Here's Why | Satish Mugulavalli (Hissa)
Podcast: Founder Thesis
Episode:

ESOPs Aren't Monopoly Money, Here's Why | Satish Mugulavalli (Hissa)
Category: Business
Duration: 01:38:16
Publish Date: 2025-03-28 04:27:50
Description:

"ESOPs aren't lottery tickets; they're a calculated risk with a potential for real wealth creation."  

This seemingly simple statement from Satish Mugulavalli, Founder and Managing Partner of Hissa, encapsulates the core message of this episode: shifting the perception of ESOPs from "paper money" to a strategic tool for both companies and employees. We unpack the often-confusing world of ESOPs, going beyond the jargon to reveal the real-world mechanics and benefits. 

Satish Mugulavalli is the Founder and Managing Partner of Hissa, a platform revolutionizing private market transactions in India. Hissa facilitates ESOP liquidity for employees and provides access to growth-stage private companies for investors. Satish is building a 150Cr fund with a 150 Cr greenshoe option. They have already closed 30 crores in their first round. The platform has generated over 5Cr in revenue till date.  

Key Insights from the Conversation:  

✅Discounts are Normal: Understand why ESOP transactions often happen at a discount to the last valuation, and why it's not necessarily a red flag. 

✅Tax Implications: Learn the crucial difference between perquisite tax and long-term capital gains, and how it impacts your decision to exercise. 

✅The Founder's Perspective: Discover why companies offer ESOPs in the first place, and how they view them as a strategic tool. 

✅The Employee's Perspective: Get practical advice on evaluating an ESOP offer and understanding your potential upside. 

✅Building the Future: Hear Satish's ambitious vision for creating a transparent and efficient private market exchange in India. 

✅The right questions to ask as an employee. 

Chapters:

  • 0:00:00 - Introduction: Demystifying ESOPs and the Rise of Hissa
  • 0:03:15 - Satish's Journey: From Startup Ecosystem to Private Markets
  • 0:05:36 - Hissa's Dual Approach: SaaS Platform and Investment Fund
  • 0:11:05 - Target Market: Identifying the Right Companies for ESOP Liquidity
  • 0:20:30 - The Hissa Fund: Investment Strategy and Fundraising
  • 0:39:23 - Understanding Valuation Discounts in Secondary ESOP Transactions
  • 0:58:11 - ESOP 101: Grant, Vesting, Exercise, and Tax Implications
  • 1:02:37 - The "Why Exercise?" Question: Balancing Risk and Reward
  • 1:07:38 - Employee friendly ESOPs
  • 1:11:51 - Building the "NSE/BSE of Private Markets": Hissa's Long-Term Vision
  • 1:18:00 - Hissa's Go-To-Market Strategy: Reaching Founders and Companies
  • 1:25:00- Future of ESOPs

#ESOPs #StartupIndia #PrivateMarkets #Hissa #SatishMugulavalli #FounderThesis #Equity #Compensation #Vesting #StockOptions #Startups #Investing #Finance #India #Liquidity #TaxPlanning 
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