Adda 247 stands out as the leading government job preparation platform. Now it aims to create a hundred crorepatis before the IPO through its ESOP policy.
Google-backed Adda 247 has granted stock options worth Rs150 crore under its employee stock ownership plan(ESOP) program to its employees
What is ESOP Policy?
Image credits: LexOrbis
The ESOP policy has a vesting period of 4years. The primary purpose of ESOP policy is to give priority and importance to its employees.
The company has always believed in rewarding talent through ESOPs. The ESOP policy was launched first in 2016; Since the day it started, it nearly rewarded around 10 percent of their workforce.
Saurabh Bansal, Co-founder of Adda 247, said that the organization is committed to building a solid long-term business for its employees as they are the company’s biggest asset biggest asset.
Adda 247 offers nearly 80-100 million government job aspirants in 12 vernacular languages across the country. Ir includes English, Telugu, Marathi, Tamil, Hindi, Bengali, Bhojpuri, Malayalam and Assamese.
To add strategic value to the company, it recently acquired the UPSC-focused ed-tech platform, studyIQ Education.
In October, Adda 247 raised $35 million in a funding round led by west Bridge Capital. In investment round a active participation seen from Asha edu tech, Info Edge, JM Financial and tech giant Google. Prior to this the company tagged an investment of Rs 80 crore from Info edge.
According to the companies statement it has 22 million monthly active users, and a total of 2 million paid users.
The company Adda 247 is the largest vernacular test preparation platform catering to the learning needs of aspirants in more than 12 Indian languages.
Founded by Anil Nagar and Saurabh Bansal in 2016. It provides online courses for more than 300 government jobs exams in India including UPSC, State PSCs, Banking SSC Teaching, Defense, State exams.
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Featured image credits: Adda247
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