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Vedantu Rolls Out Buyback Of ESOPS Worth US $3 Million

Vedantu Rolls Out Buyback Of ESOPS Worth US $3 Million

Vedantu has announced ESOPS (employee stock ownership plan) liquidity program worth US $3 million for all eligible employees. 

 

The founders will not participate in the buyback, but the top leadership and eligible active employees who have completed the vesting period will be able to liquidate their vested ESOP shares.


Vamsi Krishna, CEO & CO-Founder, Vedantu says, "We have seen enormous growth over the last few years, and we take immense pride in the impact we are creating in the lives of our students. As Vedantu grows, we want our employees to grow with us as well as they are equal contributors towards this growth. By growing the technology, engineering and product teams across all functions, ESOPs provide employees with high ownership, while providing more opportunities for financial growth. We want to enable long-term wealth creation for our employees and recognise their contribution and commitment. This is the first ESOP program to facilitate value creation for Vedans and we will continue to take more such initiatives in the future."


In September this year, Vedantu announced a US$100 million Series E round, led by Singapore-based impact investing fund ABC World Asia. The round also saw strong participation from existing investors – Coatue, Tiger Global, GGV Capital, Westbridge among others. With this round of funding, Vedantu's valuation is at US$1 billion, and it underlines its status as the largest K-12 LIVE online tutoring company in India.
 

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