Over 150 employees of Classplus will now have a chance to liquidate their vested shares. The six-year old B2B edtech startup has announced the second Employee Stock Ownership Plan (ESOP) buyback in three years!
Classplus, the six-year old Indian B2B edtech startup has announced an Employee Stock Ownership Plan (ESOP) buyback. The offer will give a chance to more than 150 employees to sell their shares back to the company and create wealth. This is the second buyback Classplus is announcing in three years.
The mobile-first SaaS platform that helps educators and content creators launch and scale their online coaching businesses, is probably the first in the edtech space to announce a buyback in recent times.
According to Mukul Rustagi, co-founder and CEO, Classplus, the platform was started “with the goal of creating value for everyone involved with us, right from our customers, to our team and investors”, and therefore, he feels “it is truly gratifying to see that vision come to fruition.” Considering that the youngest member of the team to benefit from this is only 23, and the average age of the eligible employees is 28, this goal is being met.
Rustagi and Bhaswat Agarwal launched the platform in 2018 to help their clients with content monetisation. It has helped digitise creators across over 3,000 cities and coach over 50 million students. Classplus creators have conducted 1.5 million live classes in the last one year alone, and have managed to multiply their earnings at least five fold by widening their reach in terms of students.
