OnBuy offers workforce one million pounds in share options

British e-commerce marketplace OnBuy had offered its 100 plus strong workforce the chance to have a stake in its business, following a successful 200 percent revenue growth over the past year.

Over one million pounds in granted share options will be offered to OnBuy staff, allowing them to become direct beneficiaries in the company’s future. The offer is part of OnBuy’s way of recognising the commitment employees have shown, with the share options equivalent to 25 percent of their annual income that can be exercised during any liquidity event.

It comes as the company states it expects an IPO in the next two years, plans for an international expansion and is soon to launch a mobile app.

The platform looks to be a “breathe of fresh air for retailers” that are looking for an alternative to Amazon, aiming to be a fair partner to other businesses by not selling its own product lines that could directly compete with sellers.

“At OnBuy, we do the right thing by our retailers and customers, so it’s natural that we would do the right thing by our staff too - and we don’t believe any employee should have to be in the boardroom to benefit from company growth,” the platform’s CEO, Cas Paron, said in a statement. “E-commerce is a fast-paced 24-hour business and many firms have been in the spotlight recently for poor working practices and in some cases, downright abuse of staff.”

He continued: “Frankly, this is unacceptable and at OnBuy, we are committed to creating a fair transparent working environment for all. We want to show that working for an e-commerce giant can be a hugely positive experience and our team is absolutely vital to our future success.”