Classplus, India’s leading B2B ed-tech startup that helps educators and content creators launch and scale their online coaching businesses, has announced its second Employee Stock Ownership Plan (ESOP) buyback in three years.
More than 150 employees from various roles and business verticals have the opportunity to sell their vested shares back to the company. This is the second buyback announcement made by the company within a span of 6 years since its establishment in 2018.
Classplus has announced a buyback following a period of steady growth. This ESOP buyback is a major achievement for the company, highlighting its commitment to providing employees with opportunities for wealth creation.
Notably, it is the first reported buyback announcement of the year from an edtech startup, showcasing Classplus’ efforts to demystify ESOPs and buybacks while reinforcing the belief in wealth creation possibilities offered by startups.
Mukul Rustagi, Co-Founder & CEO, Classplus, said, “It’s also a chance for our younger team members to start building wealth early, something we’re really proud to offer.”
“The youngest participant in the buyback is just 23, and the average age of the 150+ eligible people is 28. ESOP buybacks can seem infrequent in our industry, but we’re happy to show that they’re very much a part of Classplus’ plan”, Mukul Rustagi added.
This ESOP buyback is a major milestone for the company as it demonstrates their commitment to providing wealth creation opportunities for their employees.
It is noteworthy that this is the first reported buyback announcement of the year from an edtech startup, highlighting Classplus’ dedication to demystifying ESOPs and buybacks while reinstating faith in the potential for wealth creation that startups can offer.
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