Edtech company Classplus has announced employee stock ownership plan (ESOP) buyback for more than 150 employees. This is the second buyback announcement by the company in the last three years.
Over 150 employees, across roles and business verticals, are eligible to liquidate their vested shares by selling them back to the company, Classplus said in a press release. The firm did not disclose the transaction details.
Founded by Mukul Rustagi and Bhaswat Agarwal in 2018, Classplus is a mobile-first SaaS platform that helps creators turn their skills into profitable online businesses through content monetisation. On Classplus, they can launch their recorded courses, live webinars, 1-on-1 consultations, books and their own merchandise.
Classplus claims to have digitised creators across more than 3,000 cities serving over 50 million students.
Since inception, Classplus has raised around $150 million from investors like Tiger Global, AWI, RTP Global, Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, Strive, Times Internet and Abu Dhabi-based Chimera Ventures.
Classplus’ total revenue grew 3.3X to Rs 149.2 crore in FY23 from Rs 45.4 crore in FY22. The firm posted a loss of Rs 256 crore in the last fiscal year.
