BaaraatPay Founding team member converts all his ESOPs into BRED Coins. Makes more money.
In a rather strange turn of events, Gullible Preet Singh, a founding team member of BaaraatPay, the app that lets you shower bitcoins over a dancing baaraat, chose to convert all his ESOPs into BRED Coins.
When asked to comment on this drastic move, Gullible first declined. Then we told him we will take him to Nirula's for ice cream, he finally agreed.
"I have been sitting on lakhs and lakhs of ESOPs, however, never knew how to use them. In every funding round, the founders liquidate their stake and when I ask about my ESOPs, they say - Oh Teri, yaad hi nahi aaya Bro. Koi naa, next time tu de diyo. I was flabbergasted. I have never been flabbergasted before." said Gulli Boi, sobbing hopefully.
There are 7 things that happened post this. No. 3 will blow your mind.
Gulli Boi applied to convert all his ESOPs into Sodexo Vouchers, Jet Privilege points, and BRED Coins — in that order of priority. While the founders declined the first 2 requests, they agreed on the BRED coins request.
We followed the story with the founders. Ameer Rover, the founder and CEO commented - "It was purely a business decision. As a policy we never intend to allocate any value to our ESOPs - it's just the way we have built our business.
When Gullible came along and asked us to convert his ESOPs into Sodexo vouchers and Jet Privilege points, it was our turn to be flabbergasted. I mean, while they're cheaper than actual money, they still have some value. How can we give any value to our empty promises? But when he mentioned BRED coins, we knew we had a winner. Now he can use his BRED coins in buying unnecessary overpriced shit for himself at an apparent discount and feel good about it. A clear win-win-lose situation."
This is just 25% of the story. However, the other 75% will be published every year-end and you can only read it for the 6 month period of it's completion date.
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