Verba, a startup that creates an application for generating subtitles using artificial intelligence, has announced the launch of options for its development team. According to Verba co-founder Victoria Kravchenko, this is a rarity for the Ukrainian startup ecosystem.
Verba, a startup that creates an application for generating subtitles using artificial intelligence, has announced the launch of options for its development team. According to Verba co-founder Victoria Kravchenko, this is a rarity for the Ukrainian startup ecosystem.
«Verba is launching stock options. Because we are not here to build an ordinary company. In Ukraine, stock options for employees are a rather rare phenomenon,» the startup reported on its social networks.
Victoria Kravchenko said that the company decided to launch options for employees because they are creating a product for the «long-term perspective». She believes that Verba can become one of the most advanced technology companies in Europe.
The startup notes that each member of the Verba team will have the opportunity to participate in the capital.
Stock options are a type of employee motivation that involves issuing them a block of shares in exchange for loyalty and commitment to work for the company. Often, this tool is also one of the company’s competitive advantages in the fight for personnel in an overheated market.
In Ukrainian realities, it is more realistic to get an option in a startup that, according to the founders' plan, can take off. The practice of options also exists in large companies. In particular, in EPAM, Genesis.
Verba is building an app for content creators, video editors, and social media enthusiasts. It simplifies the process of adding customizable subtitles to videos and helps users «create professional-quality content.»
The app has a free version without watermarks that allows you to create videos up to 30 seconds long. Users can also purchase a monthly subscription for $3.99, which gives access to advanced features.
In a comment to Scroll.media, Kravchenko reported that the Verba team has more than 10 employees.
«Everyone at Verba will get a piece of what we build. Not just because it’s fair. Because it’s necessary. Because when you act like an owner, you have to be one,» the startup’s co-founder noted.
She added that the application is already self-sustaining and the team does not spend its own funds on additional financing.
