Unacademy Announces INR 50 Cr ESOP Buyback to Provide Employee Liquidity According to Gaurav Munjal, the buyback will reward staff widely, with eight earning over INR 1 crore, 17 above INR 50 lakh, and 38 exceeding INR 10 lakh.
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Unacademy has launched an INR 50 crore employee stock ownership plan (ESOP) buyback programme aimed at providing liquidity to its workforce, co-founder Gaurav Munjal announced on X.
According to Munjal, the buyback is expected to significantly benefit employees across levels. Eight employees are likely to receive more than INR 1 crore each, while 17 employees may earn over INR 50 lakh. Another 38 employees are projected to receive more than INR 10 lakh through the initiative.
He thanked the company's board for setting aside a cash pool for employees despite the company's current valuation being lower than its last funding round. Eligible employees will be contacted in the coming weeks to participate.
The announcement follows Munjal's recent clarification on ESOP exercise terms and valuation. The company opened a one-time 30-day window for former employees to exercise vested stock options, noting that the present valuation is below previous funding levels and that preference shareholders retain priority over equity holders.
The move comes as Unacademy undergoes a strategic reset amid broader challenges in the edtech sector following the pandemic-driven surge. The company recently said it plans to transition from company-operated offline centres to a franchise-based model to reduce costs and improve efficiency.
Unacademy has also explored consolidation opportunities. Discussions with upGrad regarding a potential acquisition were recently called off after the companies could not agree on valuation terms.
