Adda247 rolls out ESOP buyback for over 130 employees

Adda247, a multilingual learning platform backed by Google, Westbridge, Info Edge, and Asha Impact has unveiled its inaugural Employee Stock Ownership Plan (ESOP) buyback for 130 employees across various roles and functions.

This ESOP buyback is part of the company's plan to go public in 2027. The buyback price is averaging 40 times the initial purchase price. 

"This ESOP buyback represents a pivotal moment in Adda247's evolution. It's a testament to our unwavering commitment to empowering our employees and fostering a culture of shared success. Our employees are the strength of Adda247, and this initiative demonstrates our appreciation for their dedication and hard work and the wealth they can create," added Anil Nagar, Founder and CEO, Adda247.

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Nagar further added, "As we celebrate this milestone, we are inspired by the diverse goals of our employees. From fulfilling long-held dreams to clearing loans, and yes, even purchasing the latest iPhone 15 Pro Max, we are proud to support their endeavours!"

Founded in 2016 by Anil Nagar and Saurabh Bansal, Adda247 aims to make education affordable for over 500 million learners across Bharat, tier-3 & 4 cities, and rural India.

With courses in 12 Indian languages and innovative technology for low bandwidth, Adda247 serves over 40 million monthly users and has 2 million students enrolled in its premium courses. Their offerings include live online classes, on-demand video courses, mock tests, ebooks, and books, all tailored for specific exam preparations.

(The story was updated to reflect the correct IPO year)