About 15 employees are set to rake in over Rs 1 crore, with an office boy who was one of the first employees at the company taking home Rs 50 lakh. The employees will be paid within a year," said Amrish Rau , managing director, Citrus Pay. Usually, large mergers and acquisitions in the startup sector have been stock transactions including Flipkart 's acquisition of fashion portal Myntra in 2014 for an estimated $375 million. Classifieds portal Quikr bought realty portal CommonFloor for $110 million.In these transactions employees got shares of the acquiring companies. "Sequoia Capital, the earliest backer of Citrus Pay, which had invested about $10 million and owned a 32% stake in the venture, is expected to earn a four-fold return on its investment, ET reported on Wednesday.

Source: Economic Times September 15, 2016 03:00 UTC