Adda247 announces ESOPs worth Rs 150 Crore to its employees
Adda247, a Google-backed government job preparation platform, announced on Monday that it has granted its employees stock options worth Rs 150 crore through its employee stock ownership plan (ESOP) program.
The ESOP policy currently has a four-year vesting period and aims to reward exceptional talent while continuously valuing employees, according to a company statement.
“The entire purpose of ESOP policy is also to give priority and importance to our employees. Eventually, we want to generate wealth for all our employees with the dream to create at least a hundred crorepatis from our employees prior to our IPO,” said Anil Nagar, Founder & CEO, Adda247.
In 12 vernacular languages, Adda247 serves nearly 80-100 million government job seekers across the country. StudyIQ Education, a UPSC-focused edtech platform, was recently acquired by the company Adda247 now has 22 million monthly active users and 2 million paid users.
In other news, the platform recently raised $35 million from marquee investors like Google, WestBridge Capital, Infoedge and Asha Impact.
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