Unacademy announces ESOPs buyback ESOPs buyback on December 10, 2020, second liquidity event in company’s history
· Current and exited employees may liquidate between 25% to 100% of their vestedESOPs
Mumbai, October 15, 2020: Unacademy, India’s largest learning platform, announced it will have an ESOPs buyback on December 10, 2020 for its current and exited employees, the second such liquidity event at the company founded 5 years back.
All vested ESOPs until December 10, 2020 will be eligible for the buyback and current and exited employees may liquidate between 25% to 100% of vested ESOPs based on a specified scheme.
The size of the buyback pool is likely to be around Rs. 25 to 30 Crores, based on the number of ESOPs liquidated by employees. Unacademy had conducted its first ESOPs buyout in September 2019. At that time, the buyback pool was about a tenth of the current buyback size. Unacademy employees who have been granted ESOPs and have completed more than one year with the company will be eligible to participate in this liquidity round.
Making the announcement in an internal note, Gaurav Munjal, Co-founder and CEO, Unacademy, thanked employees for playing a crucial role in the company’s growth, and encouraged them to continue their efforts to democratise education in the country.
About Unacademy Group:
Unacademy is an education technology platform founded by Gaurav Munjal, Roman Saini, and Hemesh Singh in 2015. It was started as a YouTube channel by Gaurav Munjal in 2010. Headquartered in Bengaluru, Unacademy is India’s largest learning platform that brings expert Educators together with millions of students in need of quality education. With a growing network ofmorethan45,000registerededucatorsand40millionlearners,Unacademyischangingtheway Indialearns.TheUnacademygroupconsistsofUnacademy,UnacademySubscription,Wifistudy, Kreatryx, PrepLadder, CodeChef, Mastree, Graphy, Coursavy, Chamomile Tea with Toppers and Let’sCrackitBrands.ThecompanyisbackedbyprominentinvestorssuchasFacebook,General Atlantic,Softbank,SequoiaIndia,SAIFPartners,NexusVenturePartners,SteadviewCapital,and BlumeVentures.
To know more download Unacademy Learning App from Play Store, App Store or visit us at www.unacademy.com
For further information, please contact:
Gitanjali Sreepal |email@example.com