Unacademy, the online learning platform, has announced a Rs 50 crore ESOP buyback program for its employees. Founder Gaurav Munjal revealed that despite a lower valuation compared to the last fundraise, this initiative aims to reward employees with substantial payouts. Notably, eight employees are set to receive over Rs 1 crore each, while 17 will get more than Rs 50 lakh, and 38 will receive over Rs 10 lakh.
Munjal emphasized the inclusivity of this program, stating that the company will reach out to all employees in the upcoming weeks to participate in the buyback opportunity. This decision acknowledges the contributions of Unacademy’s workforce and aligns with the company’s commitment to fostering a positive work culture.
Source: Tech-Economic Times