Adda247 Grants ESOPs Worth INR 150 Crore Adda247 first launched its ESOP policy in 2016 and claims to have since then rewarded around 10 per cent of its workforce across levels and bands
By Soumya Duggal •
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Google-backed Adda247, an Indian government job preparation app, has granted stock options under its Employee Stock Ownership Plan (ESOP) program. The total valuation of the ESOP pool is worth INR 150 crore and has an annual vesting period of four years.
Adda247 first launched its ESOP policy in 2016 and claims to have since then rewarded around 10 per cent of its workforce across levels and bands. The company further claims to have increased its ESOP pool size this year to include more employees in the programme.
"We have built Adda247 with an employee-first DNA. The entire purpose of ESOP policy is also to give priority and importance to our employees. Through the policy, we want employees to grow with the organisation and also reap monetary benefits for themselves. Eventually, we want to generate wealth for all our employees with the dream to create at least a hundred crorepatis from our employees prior to our IPO," said Anil Nagar, founder and CEO, Adda247.
Adda247 has played an instrumental role in the learning journeys of more than 80 million students beyond metropolitan cities by delivering quality online education in 12 vernacular languages, claims the company.
It states that it currently has 22 million monthly active users, and a total of 2 million paid users. Recently, the company also raised $35 million from marquee investors like Google, WestBridge Capital, Infoedge and Asha Impact.
