Adda247, the multilingual learning platform supported by Google, Westbridge, Info Edge, and Asha Impact, has announced its inaugural Employee Stock Ownership Plan (ESOP) buyback for 130 employees. This significant move is part of the company’s strategic plan to go public by 2026.
The ESOP buyback will see a buyback price averaging 40 times the initial purchase price, reflecting the company’s strong performance and growth. Anil Nagar, Founder and CEO of Adda247, expressed enthusiasm about the initiative, stating, “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.”
Nagar elaborated on the personal impact of the buyback on employees, saying, “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 has been at the forefront of making education affordable and accessible. The platform targets over 500 million learners across Bharat, including tier-3 and tier-4 cities and rural areas. With courses available in 12 Indian languages and technology designed for low bandwidth, Adda247 caters to over 40 million monthly users. The company offers live online classes, on-demand video courses, mock tests, ebooks, and books tailored for specific exam preparations. Currently, Adda247 has 2 million students enrolled in its premium courses.
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